He was responding to a question at the Peter G Peterson Institute for International Economics - a Washington-based think tank, which had organised the event in association with the Confederation of Indian Industry (CII). "For instance all consumers of LPG are receiving at the market rate but targeted beneficiaries are receiving the subsidies in their bank accounts. This is operationalised in the pilot project and after some time it would be applied universally," he said.
Similarly, the government is trying to address another area of fertiliser and kerosene where there is misuse of subsidy. "Third area is of course of quantum ceiling ... currently is 2 per cent of the GDP, target is to reach 1.75 per cent in three years. I am quite confident that it is possible to do so," he noted.