India Inc has lent its support and pledged to give up the subsidy on liquefied petroleum gas (LPG) cylinders following an appeal by Prime Minister Narendra Modi.
These top corporate leaders include the Ambanis, Adani Group chief Gautam Adani, Mahindra chief Anand Mahindra and Phoenix Mills director Gayatri Ruia amongst others.
The TATA Group was one of the first big corporations to appeal to its employees to give up LPG subsidies. The PM said that the wealthy had to do their party to help the underprivileged.
"The idea came from PM Modi, I could have never thought of such an idea. I believe subsidy is not the right way to give away or distribute your wealth, this should be done by asset creation," JSW Steel Director Sajjan Jindal said.
Modi on April 3 while addressing the Urja Sangam had urged government officers and well-to-do professionals of the country to give up their LPG subsidies. "It will help many mothers and households of our country," he said.
He also pointed out that in the last few months almost 2.8 lakh people had given up voluntarily subsidized LPG cylinders which helped the government to save Rs 100 crore. Modi added that the money could be used for schools and providing medical facilities.
In an interview to the Hindustan Times on April 9, Modi reiterated and asked the well off families to give up their LPG subsidies. "It is the responsibility of the government to take care of the poor.
Thus, subsidy is and should be meant for those who really need it. It should reach the right people, at the right time and in the right proportion. It is a humanitarian issue and not just an economic issue.
The give-it-up movement is an effort to encourage well-off LPG consumers to voluntarily opt out of the LPG subsidy. The savings thereon will go towards the benefit of the poor," he said.
BJP President Amit Shah too has asked all party MPs, MLAs and office bearers to immediately surrender their subsidised LPG cylinders.
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