LPG cylinder prices cut by ₹200, 'PM Modi's gift for Raksha Bandhan',

 

New Delhi: In a move aimed at providing relief to consumers amidst growing concerns over inflation, the Union Cabinet made a significant decision on Tuesday. The price of a 14.2kg cooking gas cylinder has been reduced by ₹200. This step comes as the central government faces mounting criticism due to the steady increase in inflation rates.

Union Information and Broadcasting Minister Anurag Thakur announced the decision, stating, "On the auspicious occasions of Raksha Bandhan and Onam, the government has taken the initiative to lower the cost of domestic cylinders by ₹200. This gesture is being presented by Prime Minister Narendra Modi as a special gift to the women of our nation."

It's worth noting that the reduction in price also extends to beneficiaries under the Pradhan Mantri Ujjwala Yojana, leading to a combined subsidy of ₹400 per 14.2-kg LPG cylinder.

In the current scenario, the cost of a 14.2-kg LPG cylinder in the national capital stands at ₹1,103. However, starting from Wednesday, the price will witness a decline and settle at ₹903.

For those who are beneficiaries of the Prime Minister's Ujjwala scheme, the price will further decrease to ₹703. It's important to highlight that in March, the government had previously extended a subsidy of ₹200 per LPG cylinder under the PM Ujjwala scheme.

Furthermore, Minister Thakur disclosed that "the government has also taken the decision to provide an additional 75 lakh new LPG connections under the Ujjwala scheme without any cost." As of now, the scheme has already benefitted around 9.6 crore individuals.

In the month of July, oil marketing companies had initiated a ₹50 increase in the price of domestic LPG cylinders, following two prior increments in the month of May.

To facilitate this relief measure, the Cabinet Committee on Economic Affairs has sanctioned a subsidy of ₹200 per 14.2 kg cylinder for up to 12 refills each year, specifically for beneficiaries of the PMUY.

It's noteworthy that the introduction of the subsidy for PMUY beneficiaries took place in the preceding year of May, aligning with the government's efforts to provide a series of measures to alleviate the financial strain caused by the escalating global energy prices.