Give up subsidy if you can afford cooking gas at market price: PM Narendra Modihttps://indianexpress.com/article/business/commodities/give-up-subsidy-if-you-can-afford-cooking-gas-at-market-price-pm-narendra-modi/

Give up subsidy if you can afford cooking gas at market price: PM Narendra Modi

Modi said oil imports which account for 77 per cent of the domestic demand should be cut by 10 per cent by 2022.

Prime Minister Narendra Modi with Oil Minister Dharmendra Pradhan during the inaugural session of ‘Urja Sangam 2015’ in New Delhi on Friday. (Source: Express photo by Amit Mehra)
Prime Minister Narendra Modi with Oil Minister Dharmendra Pradhan during the inaugural session of ‘Urja Sangam 2015’ in New Delhi on Friday. (Source: Express photo by Amit Mehra)

Prime Minister Narendra Modi on Friday said the country needs to be prepared to cut oil imports asked the well off to give up subsidised cooking gas connections for welfare of the poor people.

Addressing the ‘Urja Sangam’ conference, Modi said that oil imports, which account for 77 per cent of the domestic demand should be cut by 10 per cent by 2022, when the nation would celebrate the platinum jubilee of its independence and thereafter to 50 per cent by 2030.

Also, domestic oil exploration firms should gear up to reduce the nation’s import dependence and expand their operations both within the country and abroad, the Prime Minister said.

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Making an appeal to the well off to give up the connections of subsidised LPG cylinders, Modi reasoned the money to be saved from it can be utilised for welfare of the under-privileged. He cited that Rs 100 crore in subsidy has been saved by 2.8 lakh people giving such connections responding to the government’s ‘Give it up movement’.

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“This money can be used for schools and providing medical facilities. I appeal to people who can afford LPG cylinders at market price, please do not take subsidised LPG,” the Prime Minister said.

He recalled that plans are afoot to provide piped gas connection to 1 crore households in the next four years from 27 lakh presently within four years.

Modi said that subsidies are being transferred to the bank accounts opened under the Jan Dhan scheme directly to the consumers which has considerably plugged leakages and effectively fighting corruption. “To fight corruption, if institutional mechanism, policy driven system can be put in place then we can prevent leakages. And this has been proved by cash transfer,” he said.