New Delhi: Six days into the launch of Direct Benefit Transfer (DBT) on LPG, government has disbursed subsidy to the tune of Rs 4.95 crore on transactions of around 1 lakh. Rs 40 crore are expected to be disbursed with the coverage of one million transactions by the month-end, a PMO statement said on Thursday.
Under the scheme, all LPG consumers with Aadhaar numbers and whose bank accounts are seeded with Aadhaar numbers are given an advance amount of Rs 435 per cylinder booked, immediately on booking. The amount is credited automatically in their accounts.
The beneficiaries are be supplied LPG cylinders at the market price and the net effect on them is nil as their net cash outflow is equal to the subsidised price of an LPG cylinder, it said.
The Direct Transfer of LPG subsidy to the bank accounts of LPG consumers began on June one in 18 districts. "In the first three working days of June, over one lakh LPG consumers who have booked cylinders have received the advance. Till the evening of June four, 1.145 lakh DBT transactions amounting to Rs 4.95 crore were transacted.
"Almost 30,000 DBT transactions are being executed every day. The failure rates are below 0.5 per cent," the statement said.
The PMO said it is expected that as bank seeding with Aadhaar numbers picks up, the number of transactions per day would rise. "Even at the current rate, almost one million LPG subsidy transactions through DBT could be completed in June, 2013, involving a transfer of over Rs 40 crore," it said.