Modified LPG cash transfer starts today

More than two crore households in 54 districts spanning 11 states will start getting the subsidy amount on eachcooking gas refill directly into their bank accounts from Saturday as the government rolls out the modified direct benefit transfer scheme for cooking gas (DBTL).

The scheme was originally launched by the UPA government as a game-changer in June 2013. But it was stopped earlier this year after facing legal hurdles over the mandatory requirement of Aadhaar number Stock Market Trading Tips

The Modi government on October 18 simplified the scheme by doing away with the mandatory requirement of Aadhaar number and brought in bank accounts as an option to avail of the direct cash transfer.

Fifty-four districts are being covered under the first phase and the rest of the country will be brought under the scheme by January 1, an oil ministry statement said Intraday Trading Tips

Oil minister Dharmendra Pradhan held two rounds of discussions with field executives of state-run retailers to find out practical problems they faced while implementing the scheme earlier and steps required to resolve them.

The government has dovetailed the DBTL programme into the Pradhan Mantri Jan Dhan Yojana, which has brought over seven crore families into the banking system by opening an account, to better target subsidy and stop leakage in the system. The government is looking to save Rs 10,000 crore in subsidy by curbing diversion and pilferage Commodity Trading Tips

"Consumers who had joined the scheme earlier and had received cash subsidy in their bank accounts do not need to do anything further. To confirm this, they should check their CTC (cash transfer compliant) status on www.MyLPG.in," a ministry statement said.

Under the scheme, the difference between the subsidized rate of a refill and its market price will be transferred into the consumer's bank account as soon as a cylinder is booked. The consumer will then pay the full market rate during delivery Nifty Trading Tips

The statement said consumers who do not have Aadhaar number can receive cash directly in their bank account without producing Aadhaar. "However, as and when they get Aadhaar, they may have to shift to Aadhaar-based cash transfer," it said Financial Astrology Trading Tips

"Consumers who are not CTC will get a three-month grace period during which they will receive the cylinders at subsidized rate. After the grace period, they will get an additional period of three months as 'parking period'. During the parking period, they will have to buy cylinders at the market rate. If the consumer joins the scheme within the parking period, the subsidy as per entitlement and consumption during parking period will be transferred to his bank account," the statement said Personal Numerology Trading Tips