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No LPG subsidy for higher income groups: Venkaiah
If Narendra Modi-led Central government has its way, people with annual income in excess of Rs 10 lakh will have to forgo their subsidy on cooking gas soon.
Union Minister presents FTAPCCI awards; says the Centre has demonstrated that India is unstoppable on the path of economic development
Hyderabad: If Narendra Modi-led Central government has its way, people with annual income in excess of Rs 10 lakh will have to forgo their subsidy on cooking gas soon.
Hinting at the government’s move in this direction, Union Minister for Urban Development and Poverty Alleviation M Venkaiah Naidu said, “We are thinking of stopping LPG subsidy to those who have annual income of more than Rs 10 lakh. Why do they need subsidy? Why Ministers need subsidy? Prime Minister Modi asked people to give up LPG subsidy and so far, over 30 lakh people have come forward. That subsidy will be given to the poor people who are still using firewood,” the Minister said.
Venkaiah Naidu further said that the government had saved thousands of crores of rupees after direct subsidy transfer scheme was implemented for the LPG consumers. “There were many connections without proper names, but gas was supplied to them till the scheme came into force,” he said, while speaking at FTAPCCI Excellence Awards function organised by the Federation of Telangana and Andhra Pradesh Chambers of Commerce and Industry.
Naidu maintained that all the government subsidies would soon be directly transferred to the bank accounts of beneficiaries. “In the coming days, all the subsidies and benefits including pensions, subsidies on urea and for cotton farmers will be transferred to the bank accounts of beneficiaries. These initiatives are aimed at plugging the leakages,” he said.
Referring to the recent FDI reforms announced by the government in 15 sectors, he said the move would boost investment environment and bring in more foreign investment into the country. “With this round of reforms, the government has demonstrated that India is unstoppable on the path of economic development. It is also clear that India is a country which is more than ready to integrate with the global economy,” he explained.
On Andhra Pradesh and Telangana, he said both the Telugu States had a supportive eco-system that had transformed them into a prominent hub in the global industrial landscape. Later, he presented 21 FTAPCCI Excellence Awards to various companies and individuals from AP and TS.
