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Privileged should lose LPG subsidy: Modi government

DC CORRESPONDENT | July 05, 2014, 07.07 am IST
Picture for representational purpose (Photo: DC archives)
Picture for representational purpose (Photo: DC archives)

New Delhi: In an attempt to control the burgeoning oil subsidy, the Narendra Modi government is now asking rich and upper middle class to voluntarily give up LPG subsidy.
The petroleum ministry said on Friday that over 100 employees of  the three state owned oil marketing companies  have voluntarily  given up LPG subsidy.

“This will help in expanding LPG coverage in rural areas and will be a gift of good health to women and children who are exposed to high indoor pollution by use of dirty fuels. It demonstrates care and concern for the less privileged brethren and will go a long way to others to join the movement of nation building by giving up subsidy,” said the ministry.

Petroleum minister Dharmendra Pradhan personally congratulated all these employees by sending a personal letter and has exhorted all the citizens who can afford market priced LPG to join this movement.

“The LPG subsidy can be given up by visiting the distributor and giving  a  written  request  to  this  effect.  Very  shortly  this  facility  will  be  made available via the web also. Let us all join hands in nation building,” said the petroleum ministry. Oil marketing companies suffer an under-recovery of Rs 449 per subsidised LPG cylinder. In Delhi a subsidised LPG cylinder costs Rs 414 per bottle and non-subsidised LPG cylinder comes at Rs 922.50.

PSU oil marketing companies are expected to incur an under-recovery of Rs 1,07,850 crore on the sale of diesel, LPG and kerosene.

Meanwhile stocks of state owned oil firms IOC, HPCL and ONGC went up on Friday on speculation that Centre is going to hike the price of subsidised LPG by Rs 250 a cylinder and kero-sene by Rs 4 a litre. However, the petroleum ministry denied that a such move.

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