Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

Directly submitting the benefit into users’ bank accounts has helped eliminate duplicate connections as well as diversions, making the Indian Government save over Rs 21,000 crore in cooking gas <keyword id="6360114" type="ORGANIZATION" weightage="100" keywordseo="LPG">LPG</keyword> subisdy in the last two financial years. 
 
It was from November 2014 that the government has started to submit subsidy amount directly into bank accounts of cooking gas consumers in select districts of India, while from January 1st 2015, the practice was started in the rest of the country. 
 
As on April 1, 2015, there were 18.19 crore registered LPG consumers, while there were 14.85 crore active consumers, which means that 3.34 crore consumers were duplicate, fake or inactive accounts. 
 "Eliminating such 3.34 crore consumers helped save Rs 14,672 crore in 2014-15 fiscal (year ending March 31, 2015)," Oil Minister <keyword id="197418" type="PERSON" weightage="100" keywordseo="Dharmendra-Pradhan">Dharmendra Pradhan</keyword> said at a seminar on subsidies in New Delhi. 
 The year 2015-16 saw savings worth about Rs 7,000 crore, which was lower than the previous fiscal due to a fall in <keyword id="168256" type="UNKNOWN" weightage="100" keywordseo="Global-oil-prices">global oil prices</keyword> that affected the subsidy. 
 
<a href="http://d1pcxoetpnw26i.cloudfront.net/thequint/2015-04/17946c5c-5ea8-4a68-8f3d-f80e1ed33045/cylinder%20crop%20(Reuters).jpg">Image source</a>

Submitting LPG subsidy in bank accounts saved government a whopping Rs 21,000 crore

New Delhi, Feb 13 () The oil ministry on Thursday justified the steep Rs 144.50 per cylinder hike in cooking gas LPG prices, saying the rates are based on the international market price that had increased over 26 per cent last month. It also said domestic consumers have been largely insulated from the hike by way of the large increase in subsidy. "The LPG price is derived based on the international market price for the previous month," the ministry said in a statement. "On account of a sharp increase in the international price of LPG during January 2020 from USD 448 per ton to USD 567 a tonne, there has been a hike of Rs 144.50 for a 14.2 kg cylinder," it added. The ministry said the increase in price for 26.12 crore out of total LPG user base of 27.76 crore is borne by the government by enhancing the subsidy component. The government gives a subsidy to LPG users under two different heads -- direct benefit transfer or PAHAL for domestic users and Pradhan Mantri Ujjwala Yojana (PMUY) beneficiaries. "While the price of domestic non-subsidised LPG cylinder has increased from Rs 714 per cylinder to Rs 858.50 per cylinder, the subsidy amount to subsidised consumers in Delhi has increased from Rs 153.86 per cylinder to Rs 291.48 per cylinder. "In view of the subsidised price determined by the government, the subsidised LPG consumers are insulated from the volatility of LPG prices in the international market," the statement said. For the PMUY consumers, the subsidy borne by the government has increased from Rs 174.86 per cylinder to Rs 312.48 per cylinder. "Therefore, the impact of the price hike is mostly borne by the government by enhancing the subsidy for subsidized and PMUY consumers," it said. The price hike announced by oil companies on Wednesday was the steepest in six years. In January 2014, prices had gone up by Rs 220 per cylinder to Rs 1,241. Domestic LPG users are entitled to buy 12 bottles of 14.2-kg each at subsidised rates in a year. Beyond this limit, consumers have to purchase at market price. After accounting for the subsidy that is transferred directly into the bank accounts of LPG users, a 14.2-kg cylinder would cost Rs 567.02 for domestic users and Rs 546.02 for PMUY users. The government gave out eight crore free LPG connections to poor women under PMUY to increase coverage of environment-friendly fuel in kitchens. Normally, LPG rates are revised on the 1st of every month but this time it took almost two weeks for the revision to take place. The ministry's statement did not say why the revision was pushed by 12 days. ANZ RAM

Oil Min justifies LPG price hike to spike in global rates

New Delhi, Mar 18 () The price of subsidised cooking gas (LPG) has been hiked by Rs 35.55 per cylinder in the last five months, Oil Minister Dharmendra Pradhan said on Wednesday.As per government policy, LPG all over the country is available only at market price. However, households are entitled to buying 12 cylinders of 14.2-kg each at a subsidised rate in a year. The government transfers the subsidy amount directly into the bank accounts which the beneficiaries use to buy LPG at the market price.The subsidised LPG price has gone up by Rs 35.55 per cylinder since October.In a written reply to a question in the Rajya Sabha, Pradhan said domestic subsidised LPG in Delhi was priced at Rs 538.95 per cylinder on October 1, 2019, and this month it costs Rs 574.50.He did not give any reason for the price increase.While non-subsidised or market priced LPG has varied from month to month based on benchmark international rates, subsidised LPG prices have been raised every month by Rs 4 per cylinder plus taxes.These rates, however, are no longer published by the oil market companies.To the question of whether state-owned oil marketing companies had stopped publishing subsidised gas prices, he said the price of non-subsidised domestic LPG is available at the websites of oil companies. In reply to another question, Pradhan said non-subsidised LPG cylinder costs Rs 805.50.Household consumers are getting a subsidy of Rs 231 per 14.2-kg cylinder, he said.So, a household buys LPG at Rs 805.50 per cylinder. After accounting for Rs 231 that he or she gets as government subsidy, the payout is Rs 574.50."The prices of petroleum products in the country are linked to the price of the respective products in the international market. However, the Government continues to modulate the effective price to consumers for subsidized domestic LPG and the consumers get the product at the subsidised rate. "The subsidy on subsidized domestic LPG increase/ decrease with the increase/ decrease in the product price in the international market and decision of Government on subsidy," he said.Pradhan had on July 31, 2017, stated in a written reply to a question in the Lok Sabha that the government had ordered state-run oil companies to raise subsidised cooking gas (LPG) prices by Rs 4 per cylinder every month to eliminate all the subsidies."Public sector oil marketing companies (OMCs) were authorised to increase the price of subsidised domestic LPG cylinder by Rs 2 per cylinder (14.2-kg) per month (excluding VAT) with effect from July 1, 2016," he had said.Oil companies had hiked LPG rates on 10 occasions since that go-ahead."The government vide its order dated May 30, 2017, has again authorised OMCs to continue to increase the effective price of subsidised domestic LPG by Rs 4 per cylinder effective June 1, 2017, per month (excluding VAT) till the reduction of government subsidy to 'nil'," he had stated.There are over 26 crore customers of subsidised LPG in the country. These include 8 crore poor women who were given free connections under the Pradhan Mantri Ujjwala Yojna. ANZ MRMR

Subsidised LPG price hiked by Rs 35.55 in 5 months: Pradhan

Union <a href="http://www.businessinsider.in/searchresult.cms?query=dharmendra+pradhan">Oil Minister Dharmendra </a><a href="http://www.businessinsider.in/searchresult.cms?query=dharmendra+pradhan">Pradha</a>n announced the government has capped subsidy payout domestic cooking gas, or <a href="http://www.businessinsider.in/searchresult.cms?query=LPG">LPG</a>, at Rs 18 per kg. 
 
The government had capped <a href="http://www.businessinsider.in/Finance-Ministry-fixes-kerosene-subsidy-at-Rs-12-per-litre/articleshow/48331153.cms">kerosene subsidy at Rs 12 per litre</a>. 
 
Kerosene through <a href="http://www.businessinsider.in/searchresult.cms?query=PDS">Public Distribution System</a> (PDS) is sold at Rs 14.96 per litre against the actual cost of Rs 29.91 and this cost difference is termed as under-recovery or revenue loss. 
 
While the government will provide Rs 12 to meet most of this, the remaining Rs 2.95 will be borne by oil producers <a href="http://www.businessinsider.in/searchresult.cms?query=ONGC">ONGC</a> and Oil India Ltd, said Pradhan. 
 
Likewise, there is an under-recovery or loss of Rs 167.18 on sale of every 14.2-kg subsidised LPG cylinder, which is sold at the current price of Rs 417.82. 
 
“At present, the state-owned fuel retailers incur under-recoveries on sale of PDS kerosene and subsidised domestic LPG only as petrol and diesel have been deregulated (market-linked) with effect from June 2010 and October 2014 respectively,” said Pradhan. 
 
He added for 2015-16, the government has approved budgetary support for PDS kerosene under-recovery at a rate of Rs 12 per litre and the remaining under-recovery will be borne by the upstream companies. 
 
Reportedly, for the first quarter of financial year 2016, the government will provide Rs 1,733 crore cash subsidy as per the new formula to Indian Oil Corp (IOC), Rs 404 crore to Bharat Petroleum Corp Ltd (BCPL) and Rs 451 crore to Hindustan Petroleum Corp Ltd (HPCL). 
 
Twelve LPG cylinders of 14.2-kg are supplied to every household at a subsidised rate of Rs 417.82 and LPG consumers get subsidy equivalent to the under-recovery directly in their bank accounts so that they can purchase a 14.2-kg bottle at market price of Rs 585. 
 
(Image: Indiatimes)

After kerosene, government caps LPG subsidy at Rs 18 per kg

New Delhi, Feb 12 () Cooking gas LPG price on Wednesday was hiked by a steep Rs 144.5 per cylinder due to spurt in benchmark global rates of the fuel.But to insulate domestic users, the government almost doubled the subsidy it provides on the fuel to keep per cylinder outgo almost unchanged. LPG price was increased to Rs 858.50 per 14.2 kg cylinder from Rs 714 previously, according to a price notification of state-owned oil firms. This is the steepest hike in rates since January 2014 when prices had gone up by Rs 220 per cylinder to Rs 1,241. Domestic LPG users, who are entitled to buy 12 bottles of 14.2-kg each at subsidised rates in a year, will get more subsidy. The government subsidy payout to domestic users has been increased from Rs 153.86 per cylinder to Rs 291.48, industry officials said. For Pradhan Mantri Ujjwala Yojana (PMUY) beneficiaries, the subsidy has increased from Rs 174.86 to Rs 312.48 per cylinder. After accounting for the subsidy that is paid directly into the bank accounts of LPG users, a 14.2-kg cylinder would cost Rs 567.02 for domestic users and Rs 546.02 for PMUY users. The government gave out 8 crore free LPG connections to poor women under PMUY to increase coverage of environment-friendly fuel in kitchens. Normally, LPG rates are revised on 1st of every month but this time it took almost two weeks for the revision to take place - a phenomenon which industry officials said was due to approvals needed for such a big jump in subsidy outgo. Others said the decision to defer the increase could have been because of assembly elections in Delhi. Delhi voted on February 8. ANZ ANZ ANUANU

LPG price hiked by Rs 144.5 per cylinder

Those huge hoardings with a #giveitup couldn’t be missed more conveniently if you are refilling your car at the gas station. PM Modi’s idea of encouraging well-to-do families to give up on their LPG subsidy has finally started to make a difference. 
 
A news report from the Ministry of Oil reveals that 30,000 to 40,000 households are giving up their LPG subsidy everyday. These numbers come across as a surprise. In a country habituated to government freebies, what coerced a number of households to surrender subsidy? 
 
Perhaps, it is the ‘Modi’ effect. Prime Minister had mentioned in his Independence Day speech that already 20 lakh people have given up subsidies. What is more striking is that within a day of the PM's speech, the number rose by more than a lakh to 21.26 lakh and has further gone up to 22.57 lakh, oil ministry data shows. 
 
 
Last Saturday itself, about 29,000 households has surrendered subsidy. Add to that nearly 50,000 surrender requests that remain pending for verification at any given time, and it makes a compelling narrative of government success. 
 
On August 3, oil minister Dharmendra Pradhan told Parliament that nearly 13.87 lakh consumers had given up subsidy as of July 28. Godfrey Pimenta, convener of Mumbai-based NGO 'Watchdog Foundation', quoted a reply to an RTI query saying 7.77 lakh households had forgone subsidy as of July 1. In other words, the number of people surrendering LPG subsidy almost doubled in a span of 27 days. 
 
"Our campaigners have found that the PM's appeal in the TV ad urging economically well off people to forgo subsidy in favour of the poor has found a resonance among consumers. Many are willing but somehow never got around to doing it for some reason or another. Once our boys approach them with papers, it takes little to make them sign on the dotted line," a senior executive of an oil company told TOI on condition of anonymity. 
 
Modi first made the give it up call in April. The door-to-door campaign was launched in May-end but I t picked up momentum from June. The campaign is focused on affluent localities. "Someone living in Delhi's GK-I or Mumbai's Pali Hill doesn't need subsidy of about Rs 200 per cylinder at current rates. They understand this and are signing up willingly. The PM's appeal has made it easier for us to persuade people," the executive said. 
 
All this is happening when international oil and gas prices are. The real test will be when prices rise and the subsidy gap widens to Rs 400-600 per cylinder. The subsidy had risen to Rs 800 during oil's peak run in the 2008-09 period. 
 
There are 15.3 crore LPG-consuming households registered with the three oil marketing companies. Nearly 14 crore have joined Pahal, the programme for transferring cash subsidy directly into the bank account of consumers. So far, Rs 23,848.32 crore has been transferred by subsidy. The government has set a target of getting a crore households to give up subsidy.

13.87 lakh responsible Indians have given up LPG on subsidy. Have you?

The Income Tax department has come up with several measures to keep an eye on tax defaulters and control their illicit activities. As per reports, these measures involve "blocking" the Permanent Account Numbers (PAN) of such entities, while also getting their LPG subsidies cancelled so that they do not stand eligible for further loans. 
 
These measures will be undertaken this financial year itself, so that the threat of tax avoidance can be tackled with. 
 
The PANs will be blocked in such a way "that these defaulters are not sanctioned any loans or overdraft facility by public sector banks, as the same is bound to become non-performing assets," says the strategy paper prepared by the taxmen. 
 
"Ministry of Finance can be suggested to withdraw facility like LPG subsidy which is directly credited to the bank accounts of the said defaulters," it added. 
 The department has also proposed to reveal the identities of these <keyword id="3434878" type="UNKNOWN" weightage="100" keywordseo="blocked-PANs">blocked PANs</keyword> to the Registrar of Properties, so that the defaulters are not allowed any registration of immovable properties. 
 
<a href="https://s.yimg.com/os/publish-images/finance/2015-09-02/ff446b60-516c-11e5-9ff8-7da1c9e0ffd8_14tax.jpg">Image source</a>

Not paying taxes? I-T department will block your PAN and LPG subsidies

In a bid to wipe out under-recoveries for both the fuels, the <keyword id="81848" type="ORGANIZATION" weightage="80" keywordseo="Ministry-of-petroleum-and-natural-gas">Ministry of Petroleum and Natural Gas</keyword> is mulling a staggered monthly price hike for LPG and kerosene. The government is looking to increase LPG pricing by Rs 5 per month per cylinder and kerosene by Re 1 per litre per month, according to a media report. A Re 1 per litre hike in kerosene will cut under-recoveries by Rs 850 crore per annum. 
 
According to Kirit Parikh, oil and gas expert, "A gradual increase in price is certainly better than no increase at all. Re 1 per month for kerosene is a good price increase." 
 Parikh was of the opinion that the proposed hike on LPG is much less than what is required. "LPG can bear a much higher burden than just Rs 5 per cylinder per month. Currently the subsidy on <keyword id="75088" type="UNKNOWN" weightage="80" keywordseo="LPG-cylinders">LPG cylinders</keyword> is almost Rs 500. So you need to go a long way. I welcome this as a step towards the right direction," he added. 
 Earlier, <keyword id="2373057" type="UNKNOWN" weightage="80" keywordseo="Petroleum-Minister-Dharmendra-Pradhan">Petroleum Minister Dharmendra Pradhan</keyword> had said that the price of domestic LPG cylinders will not be increased. He had also added that the number of subsidised refills given to consumers would continue. 
 
"LPG will be provided to the consumers at the same rate at which it is being made available now. No additional burden will be imposed on them. The subsidy and the number of subsidised cylinders that people are getting will be continued by our government," said Pradhan.

Narendra Modi Government Likely To Hike LPG, Kerosene Prices

<ul><li>The Delhi government has provided 50% subsidy for the consumer using 201-400 units of electricity. </li><li>The consumers will not have to pay any <keyword id="100242" type="PERSON" weightage="20" keywordseo="Electricity-bill">electricity bill</keyword> for using up to 200 units. </li><li>The price of non-subsidised LPG cooking gas will be reduced by Rs 62.50 per 14.2 kg cylinder in New Delhi. </li></ul>The residents of Delhi can breathe a sigh of relief. Chief Minister <keyword id="260213" type="PERSON" weightage="20" keywordseo="Arvind-Kejriwal">Arvind Kejriwal</keyword> government <a href="https://www.ndtv.com/india-news/arvind-kejriwal-says-no-bill-for-electricity-usage-upto-200-units-in-delhi-2078622">announced </a>that its low-end consumers need not pay electricity bills. As per the new tariff policy, <a href="https://www.ndtv.com/delhi-news/no-electricity-tariff-hike-in-delhi-for-5-years-tweets-arvind-kejriwal-2078381">the government won't impose any electricity</a> charges for those consuming 200 units of electricity or less. <div type="twitter" handle="ArvindKejriwal" handlename="Arvind Kejriwal" image="http://pbs.twimg.com/profile_images/945853608389574656/REH_LpUJ_normal.jpg" favoritecount="17150" retweetcount="3019" status="Congratulations Delhi For fifth consecutive year NO electricity tariff hike. On the contrary, for fifth consecutiv… https://t.co/b6jt4jqTij" createdat="1564568739000" id="1156511234881011712"></div>

 New electricity tariffs They have much more subsidies up their sleeve. The Delh<a href="https://twitter.com/ANI/status/1156823259159154688">i government provided 50% subsidy</a> for those consuming between 201-400 units of electricity. Starting August, The consumers will have to pay ₹252 instead of ₹800 for using 250 unit a month. Further, for 300 units, the government will charge ₹526 monthly. <keyword id="75088" type="ORGANIZATION" weightage="20" keywordseo="LPG-cylinders">LPG cylinders</keyword> to cost less This is not the only good news that the national residents received today. The price of non-subsidised LPG cooking <a href="https://www.businessinsider.in/news/lpg-cylinder-prices-cut-by-62-5-in-delhi-rates-effective-from-aug-1/articleshow/70475003.cms">gas will be reduced </a>by ₹62.50 per 14.2 kg cylinder. This is effective August 1, the company said. According to the Indian Oil Corporation, the price reduction comes on the back of prices in the international market and the Dollar-Rupee exchange rate. "Accordingly, the upfront cash payment by the consumers of domestic LPG will also reduce per cylinder. Domestic LPG consumers will now be required to make an upfront cash payment of Rs 574.50 only per 14.2 Kg cylinder in August 2019 in place of Rs 637," IOC said in a statement. (With IANS) See also: <a href="https://www.businessinsider.in/news/lpg-cylinder-prices-cut-by-62-5-in-delhi-rates-effective-from-aug-1/articleshow/70475003.cms">Cooking gas will get cheaper from today in India's national capital</a>.

Double bonanza for Delhi-ites — free power and cheaper gas

New Delhi, Feb 1 () The government's food, fuel and fertiliser subsidy bill has been pegged marginally higher by 0.23 per cent at Rs 2,27,793.89 crore for the 2020-21 fiscal, according to the Budget document.
 About Rs 2,27,255 crore has been allocated for the current fiscal in the revised estimate.
 Of the total subsidy bill estimated for the next financial year, maximum fund allocation has been made for food, followed by fertiliser and fuel.
 For 2020-21 fiscal, Rs 1,15,569.68 crore fund has been allocated for supplying subsidised foodgrain through the public distribution system (PDS) and welfare schemes, which is up by 6.33 per cent from the current year's revised estimate of Rs 1,08,688.35 crore.
 The allocation for providing subsidised fuel, especially LPG and kerosene, has also been increased by six per cent to Rs 40,915.21 crore for the next fiscal.
 For the current year, Rs 38,568.86 crore fund has been allocated in the revised estimate as fuel subsidy.
 The allocation for LPG subsidy has been increased to Rs 37,256.21 crore for the next fiscal from the revised estimate of Rs 34,085.86 crore for the current year.
 But the allocation for kerosene subsidy has been reduced to Rs 3,659 crore for the next year from the revised estimate of Rs 4,483 crore for the current year.
 However, the allocation for providing subsidised fertilisers has been trimmed by 11 per cent to Rs 71,309 crore for the 2020-21 fiscal from Rs 79,997.85 crore allocated in the revised estimate for the ongoing fiscal. LUX LUX ANS
ANS

You Searched For "LPG subsidy" and got 10 results

Submitting LPG subsidy in bank accounts saved government a whopping Rs 21,000 crore

BI India Bureau

Oil Min justifies LPG price hike to spike in global rates

PTI

Subsidised LPG price hiked by Rs 35.55 in 5 months: Pradhan

PTI

After kerosene, government caps LPG subsidy at Rs 18 per kg

BI India Bureau

LPG price hiked by Rs 144.5 per cylinder

PTI

13.87 lakh responsible Indians have given up LPG on subsidy. Have you?

BI India Bureau

Not paying taxes? I-T department will block your PAN and LPG subsidies

BI India Bureau

Narendra Modi Government Likely To Hike LPG, Kerosene Prices

BI India Bureau

Double bonanza for Delhi-ites — free power and cheaper gas

Preeti Soni

Govt's subsidy bill projected slightly up at Rs 2.27 lakh cr for FY21

PTI

Popular Keywords

Buying Guides