LPG Subsidy: This is an important news for the common man. The government is planning to end the subsidy on LPG. The Government believes that if the price of LPG cylinder is increased, the subsidy burden on the Center will be reduced considerably. The Ministry of Finance has reduced the petroleum subsidy to Rs 12,995 crore for FY 2022. Significantly, Finance Minister Nirmala Sitharaman has said that while presenting the budget, one crore beneficiaries will also be added to the Ujjwala scheme. Retail vendors can increase the price of LPG cylinders. A government official said that the central government is about to end the subsidy. Due to this, the prices of kerosene and LPG are increasing. Significantly, on booking LPG, the subsidy comes directly to the customers bank account. Here, in the report of the 15th Finance Commission, it has been told that the revenue due to petroleum subsidy is 9 in the year 2011-12. Declined from 1 percent to 1.6% in the 2018-19 financial year. Kerosene subsidy amounted to Rs 28,215 crore in 2011-12. This has been reduced to Rs 3,659 crore in FY 2022-21. According to the media report, the Finance Commission said in its report, Ujjwala scheme will increase the burden of LPG subsidy. If the government gives subsidy only to the poor, then the burden can be reduced.
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This is how you can check LPG price
If you want, you can check the price of LPG in your city from home. For this, you have to go to the website https://iocl.com/ . Here companies issue new rates every month. Where you can check the price of gas cylinders of the city.
Cashback on booking cylinder from Paytm
Paytm has brought a special offer for its customers. In which customers are getting cashback of up to 700 rupees. This offer is available for the first time on the Paytm app. This offer of the company is valid till 28 February 2021.
Things changed due to Corona crisis
LPG cylinder prices in India are revised once every month based on the international benchmark rate of LPG and the foreign exchange rate of the Indian rupee. Since 1 January 2015, the fall in petrol and diesel prices has reduced the fiscal burden on the government with petroleum-related subsidies now limited to kerosene and LPG. The subsidy on LPG cylinder purchase (12 purchases per year) has been directly credited to the beneficiaries through the Benefit Transfer (DBT) scheme in their bank accounts. However, consumers have stopped receiving these subsidies since May 2020, when international oil prices were reduced following the outbreak of COVID-19, eliminating the need for subsidies.
