New Delhi: The government on Monday announced that taxpayers with annual income of more than Rs 10 lakh will not get subsidised LPG cylinders, Press Trust of India reported. Currently, consumers are entitled to twelve 14.2 kg cylinders per year at subsidised rates. Any requirement above that has to be procured at market price.
According to the Parliamentary Committee Report on the Direct Tax Code (DTC) headed by Yashwant Sinha, the total number of individual taxpayers (2011-2012) that earned more than Rs. 10 lakhs were 17 lakhs 84 thousand.
That is 5.6 percent of total 3.24 crore taxpayers.
Prime Minister Narendra Modi had been encouraging people to give up gas subsidy on their own. He had been saying in his speeches that lakhs of people had responded to his appeal and gave up gas subsidy.