Households with income of Rs. 10 lakh may lose LPG subsidy
The idea is to maintain financial equilibrium in society: Venkaiah Naidu
HYDERABAD: The Union government is actively examining discontinuation of subsidies such as the one given on domestic LPG cylinders to all households having an annual income of Rs. 10 lakh and above.
It could happen in the near future as indicated by Union Minister for Urban Development, Housing and Poverty Alleviation M. Venkaiah Naidu here on Saturday.
Speaking at a function organised to give away the “Excellence Awards” instituted by the Federation of Telangana and Andhra Pradesh Chambers of Commerce and Industry (FTAPCCI) he said the government was also planning to give other subsidies such as the one on urea directly to farmers, instead of giving it to fertilizer companies.
“By doing so, the government is planning to maintain a financial equilibrium in society”, Mr. Naidu said, adding that the Petroleum Ministry had already been saving huge money spent on LPG subsidy by linking the domestic consumers with their bank accounts and Aadhaar numbers. A large number of fake beneficiaries were eliminated in the process, he said.
On the functioning of the BJP-led NDA government at the Centre, Mr. Naidu said some sections, including those from the industrial/corporate sector were of the opinion that Prime Minister Narendra Modi could have done more by now. But, the government needed to be given time to show results. “Unlike some Opposition parties, the BJP does not believe in criticising corporate sector in the morning and do business with the same in the evening,” he said.