One million people give up LPG subsidy

Chennai: The three public sector oil companies have managed to convince one million people nationwide to surrender their subsidy for gas cylinders after the Union government launched its “Give it Up” campaign.

Indian Oil Executive Director Indrajit Bose
Indian Oil Executive Director Indrajit Bose
Around 15.3 crore consumers are registered with the three companies, Indian Oil (Indane), Bharat Petroleum (Bharat Gas) and Hindustan Petroleum (HP Gas), which incur a total subsidy cost of Rs 40,000 crore on providing 12 LPG cylinders per year to each consumer.

The campaign, which reaches out through visual media as well through interactive voice response (IVRS), when a consumer calls for a refill, is aimed at bringing down the subsidy component.

The oil companies are hoping to persuade at least 1 crore consumers to give up their gas subsidy. Uttar Pradesh has 2.09 lakh consumers, who have given up subsidy so far, the maximum among all states. UP is followed by Maharashtra.

“The total saving for the Centre due to 1 million consumers giving up is likely to be Rs 140 crore. In the coming months, we expect the number to go up substantially,” Indian Oil executive director Indrajit Bose said on Friday.

Inputs with TNN