Finance Minister Nirmala Sitharaman on Saturday announced that this year, the Indian Government will give a subsidy of ₹ 200 per gas cylinder (upto 12 cylinders) to over 9 crore beneficiaries of Pradhan Mantri Ujjwala Yojana.
The move will help ease some of the burden arising from cooking gas rates rising to record levels.
The move will have a revenue implication of around ₹6100 crore a year, the finance minister said.
“This will help our mothers and sisters,” said Sitharaman.
Cooking gas LPG prices on Thursday rose for the second time this month by ₹3.50, taking LPG cylinder prices across the country over the ₹1,000-mark.
On 19 May, 14.2 kg domestic LPG cylinders in Delhi and Mumbai costed ₹1,003; and in Kolkata it cost ₹1,029, for Chennai it was ₹1,018.5.
In a series of key announcements made on Saturday by the Finance Minister of India, reduction in excise duty of Petrol and Diesel was also made. “We are reducing the Central excise duty on Petrol by ₹8 per litre and on Diesel by ₹6 per litre. This will reduce the price of petrol by ₹ 9.5 per litre and of Diesel by ₹ 7 per litre. It will have revenue implication of around ₹ 1 lakh crore/year for the government.,” Sithraman announced.