You are here: Home » Economy & Policy » News
Business Standard

Oil minister thanks Mistry for endorsing LPG 'Give it up' campaign

LPG accounted for 33% of OMCs' gross under-recoveries of Rs 139,000 cr on sales of subsidized petroleum products

BS Reporter  |  New Delhi 

Petroleum and Natural Gas Minister on Thursday thanked Chairman for endorsing the ‘Give it Up’ campaign of the ministry. The campaign, launched by Prime Minister on March 27 at the annual energy-focussed summit 2015, is aimed at encouraging people, who can afford to, to give up liquefied petroleum gas (LPG) subsidy. The prime minister asked companies and banks to encourage their employees to give up the subsidy on In a press release, Pradhan complimented Mistry “for the initiative by which employees will forego subsidy component and the amount will be re-deployed towards nation-building.” subsidy accounted for 33 per cent of oil marketing companies’ gross under-recoveries of Rs 1.39-lakh crore on sale of subsidised petroleum products below cost. The government has launched the modified direct benefits transfer scheme to cut leakages in subsidised cooking gas cylinders.

Modi had announced last month that more than 280,000 people have given up LPG subsidies leading to savings of over Rs 100 crore in the past 10 months. Oil Minister Pradhan, Finance Minister Arun Jaitley, Attorney-General and Power Minister are among the persons who have given up

First Published: Fri, April 03 2015. 00:21 IST