Indian government is considering doing away with the
LPG subsidy for the well-off, Finance Minister Arun Jaitley said.
Speaking at a Leadership Summit he said the next
important decision India will have to take is whether people like me are entitled
to get our LPG subsidy.
"I think the sooner we are able to take these
decisions as to who is entitled to these subsidies, of course some people would
be, the better it would be for our system. These decisions are all on our
agenda," he added.
Currently, 12 cylinders are available to consumers
at a subsidised rate of Rs 414 each (in Delhi). Any requirement beyond this
will have to be purchased at the market price of Rs 880 per 14.2-kg cylinder.
He further said that India is at a crucial stage "where we must not exhaust our patience" as global investors are looking at the country with renewed interest.
He further said that India is at a crucial stage "where we must not exhaust our patience" as global investors are looking at the country with renewed interest.
After coming to power, the Narendra Modi-led
government deregulated diesel prices and linked them to the market rate. Earlier,
the government used to provide subsidy on diesel.
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