In one of the biggest ‘Give It Up’ campaigns, millions of Indians have given up their LPG subsidy. This comes after last year Prime Minister Narendra Modi appealed to the well off people to give up subsidised cooking gas.
The number of consumers who have responded to the “Giveitup” campaign has touched a 8.22 million, helping the government save Rs 4,166 crore.
There are as many as 14.54 crore active LPG consumers in India, of which at least one crore consumers are eligible to surrender their subsidy. As on July 22, around 12.6 lakh Indians have given up their subsidy.
Each of these 8.2 million families has surrendered an annual LPG subsidy worth Rs 5,000, which for the government means the savings of around Rs 4,166 crore.
The initiative asking consumers to give up their LPG subsidy had been on since 2012, but the movement gathered pace in the past year due to a massive outreach programme run by the petroleum ministry.
The three companies – Indian Oil (Indane), Bharat Petroleum (Bharat Gas) and Hindustan Petroleum (HP Gas) – have nearly 15.3 crore registered consumers.
Al the three firms incur a total subsidy cost of Rs 40,000 crore on providing 12 LPG cylinders per year to each consumer.