The DBTL (Direct Benefit Transfer-LPG Subsidy) in India, in the initial first week has seen more than 2,50,000 lac families receiving Rs435/- in their bank accounts. This translates into Rs10 crores inflow in the Saving Bank accounts, across 18 Indian districts.
The 18 districts where the DBT for LPG was launched from June 1 are: Anantpur, Chittoor, East Godavari, Hyderabad and Ranga Reddy in Andhra Pradesh; Diu in Daman and Diu; North Goa; Bilaspur, Hamirpur and Una in Himachal Pradesh; Tumkur in Karnataka; Pathanamthitta and Wayand in Kerala; Wardha in Maharasthra; Pondicherry; SBS Nagar/Nawanshahar in Punjab and East Nimar (Khandwa) and Harda in Madhya Pradesh.
LPG consumers in Mysore (Karnataka) and Mandi (Himachal Pradesh) are eagerly waiting to experience the magic of 435 in their bank accounts.
As the scheme has mainly rolled out in Urban areas, it is estimated that Rs5 crores is still left in the respective bank accounts and the LPG consumers have paid the full LPG cylinder bill amount from their house hold savings only.
As per the Gas companies, the 18 districts have 73 lac cooking gas consumers, which translates in to Rs317,55,00,000.00 (Three hundred seventeen crores fifty five lacs only/-) monies in the bank accounts, for one transaction cycle.
Mouth watering, is it not. One advantage the government had in the whole exercise is that there are only 3 Government cooking LPG companies in India i.e Indian Oil Corporation (IOCL), Hindustan Petroleum Corporation ( HPCL) and Bharat Petroleum Corporation ( BPCL). This has helped in developing the backend infrastructure for the DBT-LPG subsidy quickly.
- 14 Crores Indians be ready for LPG subsidy via Direct Benefit Transfer (DBT) (simplybanking.wordpress.com)
- Direct transfer of LPG subsidy begins in 18 districts (news.in.msn.com)
- 85 Indian Banks ready to receive DBTL Credits (simplybanking.wordpress.com)