Impact Of LPG Gas Company In Indian Economy

Impact Of LPG Gas Company In Indian Economy

Impact Of LPG Gas Company In Indian Economy

The growth of the Indian economy is closely related to the development of the gas sector in India. LPG gas being an environment-friendly and cleaner fuel is an alternative to solid fossil fuel.

Cleaner energy consumption has always played an important role in the well-being of society. It not only makes the environment cleaner but also uplifts other sectors of society.Today, the LPG cylinder is available in cost-friendly sealed cylinders which you can purchase from any LPG gas company. The weight of the cylinder varies from 5kg cylinder to 33Kg commercial cylinder depending upon the usage.

Positive Impact of LPG Gas Company on the Indian Economy

Increases GDP

Economic growth means the increase in the market value of goods and services measured in a fiscal year. Economic growth is measured by the percent rate of increase of GDP. According to reports, the increase in the use of LPG cylinders directly impacts the value of goods and services. The subsidized prices of LPG and other LPG policies help in increasing the overall GDP of India.

Read More: How To Tackle The Issue Of Household LPG Cylinder Sweating

Stimulant to Industrial Production

Development in the industrial sector helps in boosting the overall GDP of a country. The industrial sector largely depends on fossil fuels and crude oil for the manufacturing and production of various products. Adaptation of LPG gas in industries reduces production costs in industries. Furthermore, it has a high calorific value which means it saves time in production and stimulates production efficiency in the industry.

Reduces Expenditure in Health Sector

In economic terms, the use of LPG gas helps in improving people’s lives. It does not produce any particulate matter and has less carbon emission than other alternatives such as coal, or wood in domestic cooking. This leads to a reduction in health-related expenditure which can be spent in other sectors.

Stimulates the Job Sector

To boost an economy, it is extremely important to create jobs. Private gas companies are offering gas agencies to rural and urban people who want to start their businesses. According to the recent trend, the consumption of LPG has become wider, and to bridge the gap of requirement and availability LPG gas companies collectively play a crucial role.

Apart from providing dealerships of private gas agencies, LPG gas companies hire skilled labor for gas refiling and help out people across India for safety training. The need for skilled labor employs lower-middle-class and poor-class people. This reduces the burden of unemployment and indirectly impacts the economy of a country.

Growth of Industries

To meet the growing demand for LPG Gas in India, there is a need for infrastructure like oil refineries in India to increase the production of LPG. According to International Energy Agency (IEA), the consumption of natural gas is expected to grow up to 24 billion cubic meters, which means the annual growth will be 9% by 2024. To fulfill this requirement, the gas companies are investing in infrastructure which is, directly and indirectly, impacting the growth of the Indian economy.

Impact On Cost-Of-living

LPG is more cost-efficient than traditional fuel. The government’s PAHAL scheme and subsidy reduce the cost of LPG Gas. This reduces the cost of living and strengthens the economy of people living in a country. Needless to say, when the cost of living decreases the money can be invested in other sectors.

Conclusion

LPG gas directly impacts the socioeconomic structure in India. India is a developing nation, and LPG gas productivity and supply help in the growth of other dependent sectors. It is needless to say LPG gas companies help in fueling the economic growth of India.

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