No loan recovery from Ujjwala beneficiaries for next 6 refills

The oil marketing companies (OMCs) have decided to defer recovery of loan amount from Ujjwala beneficiaries for next six refills starting from April 01, 2018.

GN Bureau | April 2, 2018


#oil marketing companies   #oil   #Ujjwala   #Pradhan Mantri Ujjwala Yojana  

Keeping in line with the spirit of Pradhan Mantri Ujjwala Yojana (PMUY) scheme and the centre’s goal to achieve universal LPG penetration by 2022, the oil marketing companies (OMCs) have decided to defer recovery of loan amount from Ujjwala beneficiaries for next six refills starting from April 1, 2018.

 
The deferment of loan recovery, upto to six refills would be implemented as per the guidelines. The scheme would be applicable for all the existing PMUY LPG connections who have availed loan for stove or first LPG cost from the OMCs.
 
All PMUY customers who have outstanding loan, as on March 31, 2018, will have a deferred recovery of the outstanding amount up to six LPG refills. Besides, all new consumers who will be enrolled after April 01 will also have a deferred recovery of the outstanding loan amount.
 
The loan deferment scheme, along with other OMC initiatives such as PM LPG Panchayats (peer learning platforms to support behavior change in Ujjwala beneficiaries) will boost the LPG refill consumption by PMUY customers and facilitate usage of cleaner fuel. It would provide a big push to the country’s progress towards sustainable development goals.
 
About 70 percent of the PMUY customers have availed interest free loan facility provided by OMCs towards financing LPG stove and/or first LPG cost. Under the scheme, OMCs are recovering the subsidy amount provided on subsequent refills from beneficiaries who have taken loan and adjusting the same towards the repayment of the loan. Hence 70 percent Ujjwala beneficiaries purchase refills at market price until their loan is paid back. Paying the market price for the initial few refills is an additional hurdle that was coming in the way of their shift towards cleaner fuel.

Comments

 

Other News

Air Pollution: What needs to be done to tame the silent killer

Air pollution in Delhi has been in headlines, as every year in recent times. Mumbai too has suffered from air pollution, despite being a coastal city. Apart from many other metros such as Bangalore and Kolkata, tier-I and -II cities and rural areas also have high pollution levels. Every year reports and st

Free food grains for 81.35 cr beneficiaries for five years

The central government will provide free food grains to about 81.35 crore beneficiaries under the Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY) for a period of five years with effect from January 1, 2024, the cabinet decided on Wednesday. Terming it as a “historic decision”, a

“I wrote ‘Survival at Stake’ to provide food for thought about solutions”

Survival at Stake: How Our Treatment of Animals Is Key to Human Existence By Poorva Joshipura HarperCollins, 328 pages, Rs 499 With science now recognising animal consciousness, intelligence, emotion, and even morality, there must rise an awareness of

‘Bon Voyage’ through the Arctic: Exploring new horizons for India

India`s tryst with trade through the Arctic regions, including the Northern Sea Routes (NSR), has become an impact-making endeavor recently. The Arctic of yore is now a pivot – point of geopolitics, of climate change discussions, and for economic opportunities; 40% of oil and gas reserves said to be

Demystifying Contemporary Finance Theory and other lessons in investment

Investing Decoded: Simple Path To Building A Portfolio In Millions By Anirudh Rathore Penguin India, 320 pages, Rs 499

Deepfake: India to prepare four-point action plan

Deepfake has emerged as a serious threat to democracy and social institutions across the world. Propagation of deepfake content via social media platforms has aggravated this challenge. Ministry of Electronics and Information Technology (MeitY) has, from time to time, advised social media in

Visionary Talk: Amitabh Gupta, Pune Police Commissioner with Kailashnath Adhikari, MD, Governance Now


Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter