While many consumers have given up subsidy voluntarily, the government felt that consumers in the higher income bracket should get LPG cylinders at the market price.
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As per the release of the Ministry of Petroleum & Natural Gas (MoPNG), the scheme would be initially on the basis of self-declaration basis from January 1.
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If your or your spouse’s taxable income previous year was more than Rs10 lakh, then you will have to forget your subsidy for the liquefied petroleum gas (LPG) refill.
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The court had also asked the state and central governments to come up with a solution to clean Delhi’s air. It has said this way – “Why should a rich man travel in a diesel auto and pollute the environment”.
The government announced the change in subsidy rules that will winnow about 18 lakh LPG consumers – or roughly 5 per cent of the taxpayers’ base of 3.65 crore – from the number of beneficiaries of the subsidy.
The government had also launched a scheme for people to give up their subsidies so that the less privileged would benefit.
Also, there could be material savings in LPG subsidies if the plan is implemented on a larger scale with a lower income threshold as LPG is used highly in urban areas, which have large population of consumers who can afford unsubsidised LPG prices, ICRA further 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. This may be small when compared to the total annual (2014-15) subsidy payout on LPG estimated at Rs 40,551 crore.
Presently, there are no price quotes of how many LPG clients may have a gross income of Rs 10 lakh or more.
With the 400% hike the salary of the Delhi lawmakers increased from Rs 88,000/- to Rs 2.10 lakh per month.
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However, this was revised to nine in January as consumers were bearing the brunt of runaway inflation at the time. Thus, in case of higher crude oil prices (above US$ 55-60 /barrel), the subsidy burden on PSU oil companies may be lower with the current announcement of stopping subsidy for high income consumers, ICRA said.
