News Live: Own a car? You may soon have to forgo LPG subsidy This blog will keep track of key global and local developments impacting business and markets through the day. Important local and global political developments will also find resonance here.

Own a car? You may soon have to forgo LPG subsidy

If you own a car, you might soon have to forgo the subsidy on your LPG cylinders, reports Business Standard. By eliminating 36 million fake connections through Direct Benefit Transfer for LPG (DBTL), the government has saved nearly Rs 30,000 crore of cooking gas subsidy. Now, it is planning to strike car owners off the subsidy list.

Sources in the government said the idea was in its initial stage. The government had collected registration details of cars from regional transport offices (RTO) in a few districts. If it worked out, there could be huge savings on subsidy. A lot of people who have two or three cars were also taking subsidy at present.

The government had last year excluded those with an annual income of more than Rs 10 lakh from LPG subsidy. For deciding on the income cap, the Ministry of Petroleum and Natural Gas had taken details of LPG customers from the Income Tax Department. This included PAN, residential address, and mobile number.