The Move aimed at reducing the financial burden on citizens
NEW-DELHI: As the nation prepares to celebrate the festival of Rakhi, the Prime Minister Narendra Modi-led government has revealed a significant relief measure for households grappling with inflation. Amidst criticism from opposition quarters regarding soaring cooking gas cylinder costs, sources within the government have confirmed a reduction of Rs. 200 in the prices of domestic LPG cylinders. This substantial reduction is scheduled to take effect from August 30, 2023.
The Move, specifically aimed at reducing the financial burden on citizens, particularly those covered under the Pradhan Mantri Ujjwala Yojana, marks a proactive step by the government in response to the mounting concerns surrounding escalating living costs. This reduction, which is poised to benefit a substantial number of households, is expected to impose a financial commitment of approximately Rs 7500 crore on the government exchequer.
Last year, in light of surging global crude oil and gas prices attributed to the Russia-Ukraine conflict, the Modi government implemented a subsidy of Rs. 200 per cylinder for beneficiaries of the Ujjwala Yojana, who were entitled to receive 12 cylinder refills annually. This subsidy extension was operational until March 31, 2024. Despite these measures, recipients under the scheme were still incurring a cost of Rs. 900 per cylinder. To address this, the central government has opted to provide an additional subsidy of Rs. 200 on LPG cylinders, a move that promises immediate financial respite to the beneficiaries of the Pradhan Mantri Ujjwala Yojana.
The decision to curtail LPG cylinder prices aligns with PM Narendra Modi's announcement on India's Independence Day, August 15, 2023, from the iconic Red Fort. In his address, the Prime Minister reiterated the government's commitment to implementing measures that mitigate the impact of inflation on the general people. The move to slash cooking gas cylinder prices emerges as one of the key actions in line with this commitment.
