Centre cuts domestic LPG price by Rs. 200/cylinder
In a major relief for consumers amid the festive season, the central government on Tuesday announced a reduction in the price of liquefied petroleum gas (LPG) for domestic use. Union minister Anurag Thakur said the price of LPG cylinders will be slashed by Rs. 200 per cylinder for all domestic consumers. The move will likely benefit 33 crore consumers, he added.
PM Modi's gift to women on Raksha Bandhan, Onam: Thakur
Announcing the decision, Thakur said, "This is a gift from PM Narendra Modi to the women of the country during the occasion of Raksha Bandhan and Onam." The financial implication of an additional subsidy of Rs. 200 per cylinder would be Rs. 7,680 crore for 2023-24, he added. For Ujjwala scheme beneficiaries, this subsidy will be in addition to Rs. 200/cylinder they already receive.
Cabinet approves 75 lakh new gas connections
Furthermore, the Union Cabinet has approved 75 lakh new gas connections under the Pradhan Mantri Ujjwala Yojana. The decision comes at a time when the central government has reportedly been reviewing the past subsidy that was being provided for cooking gas. Notably, the latest subsidy follows years of a halt on price cuts due to high import prices for crude oil.
Watch: Thakur's full announcement here
Domestic LPG cylinder to cost Rs. 903 in Delhi
A domestic LPG cylinder (14.2kg) was reportedly being sold in New Delhi for Rs. 1,103 before the latest price cut. The price was the same last month, too. It will now cost Rs. 903 from Wednesday. Notably, the LPG prices are determined by the crude prices in the global markets. Therefore, any hike in crude prices will lead to an increase in LPG prices.
Domestic LPG price was hiked in March
The price of a 14.2kg domestic LPG cylinder was last increased by Rs. 50 in March 2023. Now, it has been revised after nearly six months. To recall, for the financial year 2022, the cylinder price was lowest in April 2022 (at Rs. 949.5).
