The benefit of subsidised LPG will no longer be available to those people whose annual taxable income exceeds Rs 10 lakh. The government on Monday made the announcement, stating that people in the high-income tax bracket should buy cylinders at market rates and also give up their subsidies voluntarily.
A statement issued by the Ministry of Petroleum and Natural Gas said that the move will come into effect from January and will be applied on a self-declaration basis initially. At present, all households are entitled to get 12 cylinders of 14.2 kg each at a subsidised rate of Rs 419.26, while the market price is Rs 608, reported PTI.
India has 15 crore LPG consumers, of which 57.50 lakh have opted out of getting the subsidy under the “GiveItUp” campaign, the government said. The money saved from this campaign has been used to install new LPG connections for families below poverty line under the “GiveBack” campaign, allowing them to give up the use of kerosene, wood, coal, cow dung and other harmful fuels.