PM Narendra Modi to launch Rs 8k-cr scheme

PM Narendra Modi to launch Rs 8k-cr scheme for LPG Connection

PM to launch scheme for free LPG connections to give five crore complimentary domestic cooking gas connections to listed below poverty line (BPL) family members on May 1. The estimated price of the project is Rs 8,000 crore.

Out of 16.5 crore domestic cooking gas users, 1.13 crore people have willingly surrendered their cooking gas subsidy as part of the ‘Give It Up’ programme of the government released in March 2015. That is 6.01 percent of overall consumers are aiding produce sources for the scheme.

PM Narendra Modi to launch Rs 8k-cr scheme

PM Narendra Modi to launch Rs 8k-cr scheme

The government has conserved Rs 1,100 crore in aids from the programme,” stated Petroleum Minister Dharmendra Pradhan. LPG Gas Consumers are currently qualified to 12 cylinders of 14.2 kg at subsidised prices each, a year. Additional cyndrical tubes will certainly go to market price. A subsidised 14.2-kg cylinder is currently available at Rs 406.63 in Chennai, versus the market price of Rs 521.00. The complete savings has to do with Rs 7,000 crore on the subsidy of Rs 115 per cylinder. Per customer, the federal government would certainly save around Rs 1,380 annually at the present price of subsidy, which is Rs 115.

During 2014-15, subsidy payout on LPG was estimated at Rs 40,551 crore. In last April-September, subsidy outgo was Rs 8,814 crore. The overall payment this fiscal year is expected to be less than in 2014 as oil costs have fallen dramatically. The Government currently desires individuals gaining over Rs 10 lakh per month to surrender subsidy. Maharashtra tops the list with 16.44 lakh consumers losing hope subsi dies Pradhan’s home state of Odisha was also reduced at 1.3 lakh.

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