LPG subsidy to stop for over Rs.10 lakh bracket
LPG subsidy to stop for over Rs.10 lakh bracket
New Delhi,28 December: The Union Ministry of Petroleum and Natural Gas on Monday announced that anyone with a taxable income above Rs.10 lakh during the previous financial year will not get the benefit of subsidy on LPG cylinders. It will applicable from January 2016 onwards, and would be “initially implemented on a self-declaration basis.” The Union government feels that people in the high-income bracket must not get the subsidy anymore.According to ministry statement, the Centre had given a call to the well-to-do households for voluntarily giving up LPG subsidy. So far, 57.50 lakh LPG consumers have opted out of LPG subsidy voluntarily heeding the call given by Prime Minister Narendra Modi. The subsidy saved from the ‘Give it up campaign is being utilised for providing new connections to the ‘below poverty line’ (BPL) families under the ‘Giveback’ campaign. This enables provision of LPG, a clean fuel, to poor households by replacing the conventional fuels such as kerosene, coal, fuel wood, cow dung, etc. relieving the poor of the hardships and health hazards from such fuels, the ministry added.
