New Delhi. Amid rising global energy prices and increasing burden on the government exchequer, the Central Government has taken a big and tough step regarding LPG subsidy. Now government oil companies (Oil Marketing Companies) like Indian Oil (IOC), Bharat Petroleum (BPCL) and Hindustan Petroleum (HPCL) are using the data of Income Tax Department to identify those who are not entitled to get subsidy. After identifying these people, companies will stop their subsidies as soon as possible. If the customer feels he is eligible for the subsidy, he will get a chance of 7 days. Let us understand this in detail.
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What is the new rule and action?
According to a recent report by ‘Mint’, the government is preparing to stop subsidies for those consumers whose annual income is ₹ 10 lakh or more. The government believes that instead of giving subsidies to rich families, this money should be used to help the poor and ensure the energy security of the country. In this direction, oil companies have started taking some of the steps given below.
Alert through SMS
Companies have started sending messages to customers whose tax records show that their gross taxable income or that of any member of their family exceeds the prescribed limit.
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7 day ultimatum
The message clearly states that if the customer feels that the data is incorrect, he can lodge an objection within 7 days. Failure to do so will result in their gas subsidy being stopped permanently. Opportunity to complain: Consumers can register their complaints by visiting the companies’ toll-free helpline or their official website (portal).
Why is the government becoming strict?
This step has been taken at a time when crude oil prices are skyrocketing in the international market. This is increasing pressure on India’s foreign exchange reserves. The government faces a double challenge. While on one side there is increasing subsidy expenditure, on the other side there is fiscal deficit. Even before this, oil companies had taken several steps to save subsidy, which are given below.
Temporary ban on new connections:- At present the pace of giving new gas connections has been slowed down.
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Increasing refill booking period:- The time between re-booking gas cylinders has been increased so that consumption can be controlled.
‘Emergency’ preparations to save foreign exchange
If reports are to be believed, several meetings have been held recently between officials of the Prime Minister’s Office (PMO), Finance Ministry and RBI. The government is not only considering increasing fuel prices but is also planning to ban imports of ‘non-essential’ goods like gold and electronics to save the dollar.
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