Reclaim your LPG subsidy in one year
If you are one of the ninety lakh people who gave up their LPG subsidy under the government's 'Give it up' campaign, you can reclaim it after one year, a leading daily has reported.
While the government is looking at offering various options after the campaign ends, the 'Give it up' campaign was only for a month and people can claim their subsidy again, Oil Minister dharmendra Pradhan said.
However, there will be no auto renewal of the subsidy, he said.
Pradhan was answering a question if the subsidies can be reclaimed if there's a hike in LPG price or a huge difference between the market prices and subsidised rates.
Currently, a consumer is entitled to 12 subsidised cylinders of 14.2 kg per year. In Delhi, a subsidised cylinder costs Rs 419.13, a non-subsidised cylinder (for domestic use) costs Rs 509.50.
The 'Give it up' campaign was launched by Modi on March 27 last year, where he appealed to the well-to-do to voluntarily give up their LPG subsidy so that they can be allotted to the poor.
As of March 27, a year after the campaign was rolled out, nearly 90 lakh Indians had voluntarily given up their LPG subsidy.
Back then, Modi said that 2.8 lakh people giving up their LPG subsidy would lead to a benefit of at least Rs 100 crore. As against that 90 lakh people have given up their subsidies.
Now, Modi is going to launch a Rs 8,000-crore scheme parallel to the 'Give It Back' campaign, which is set to give free LPG connections to women from five crore BPL families in three years.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
SBI 444-day FD vs PNB 400-day FD: Here's what general and senior citizens will get in maturity on Rs 3.5 lakh and 7 lakh investments in special FDs?
Rs 3,500 Monthly SIP for 35 years vs Rs 35,000 Monthly SIP for 16 Years: Which can give you higher corpus in long term? See calculations
Looking for short term investment ideas? Analysts suggest buying these 2 stocks for potential gain; check targets
Power of Compounding: How long it will take to build Rs 5 crore corpus with Rs 5,000, Rs 10,000 and Rs 15,000 monthly investments?
SCSS vs FD: Which guaranteed return scheme will give you more quarterly income on Rs 20,00,000 investment?
01:34 PM IST