LPG cylinder Subsidy- Big information is coming out regarding the subsidy of LPG cylinder. The government is in the process of reinstating the subsidy on LPG cylinders.
New Delhi. Important news about LPG subsidy is already there. It is reported that the Ministry of Petroleum and Natural Gas is evaluating the limit at which subsidy on liquefied petroleum gas (LPG or cooking gas) will be restored. Business Standard quoted a senior official of the ministry as saying that a survey is being done for this.
According to a senior government official who is aware of the matter, a survey is currently being conducted to find out at what price more and more consumers will buy LPG gas cylinders. According to the official, various options are being considered for this. One of these options is to limit any subsidy disbursal to the Pradhan Mantri Ujjwala Yojana (PMUY) beneficiaries only.
May 2020 LPG subsidy was stopped in many areas in the
year 2020, when the worldwide lockdown was imposed due to the coronovirus epidemic, crude oil prices fell at that time. This helped the Government of India on the LPG subsidy front as the prices were low and there was no need to change the subsidy. The government had canceled the subsidy on LPG in May 2020. At that time the price of 14.2 kg LPG cylinder in Delhi was Rs 581.50. At present its price has reached Rs 884.50.
Learn how subsidies still
Tell that zero subsidy on domestic cylinder in Delhi, but the heart is still some states in freight costs as subsidies. The exact amount of subsidy varies in each case, but it is roughly less than Rs 30. According to media reports, the government is conducting a survey regarding subsidy, trying to find out at what rate consumers can buy LPG cylinders. The government wants to keep its prices under control.
Since PMUY beneficiaries are considered to be the most vulnerable financially, an option is being considered to give any new subsidy allocation to them only. The quantum of subsidy to be given and the effective price of subsidized LPG cylinder will be decided after the results of the survey.
Subsidy on petroleum products decreased by 92% In
The period April-July, there has been a decline of 92% in petroleum product subsidies on an annual basis. Looking at the reason for this, the government has stopped the transfer of subsidy on LPG cylinders to the accounts of lakhs of beneficiaries, despite the huge increase in the price of cooking fuel. In the first 4 months of 2021-22, the petroleum product subsidy was estimated to be at Rs 1,233 crore. Which is less than Rs 16,461 crore of the corresponding period last year i.e. 2020-21.