In light of the Raksha Bandhan and Onam celebrations, Anurag Thakur, the Minister of Information and Broadcasting, conveyed that the government has opted to slash the cost of domestic cylinders by ₹200. Thakur highlighted that this act is a gracious gesture from Prime Minister Narendra Modi towards the women of the nation.
This reduction in price extends to the beneficiaries of the Pradhan Mantri Ujjwala Yojana (PMUY) as well. For individuals within the PMUY program, the cylinder price will be adjusted to ₹703. Notably, back in March, the government had prolonged a subsidy of ₹200 per LPG cylinder within the framework of this initiative.
Thakur made another significant announcement, stating, “The government will also grant 7.5 million new complimentary LPG connections under the Ujjwala scheme.” Presently, there are 96 million beneficiaries of this scheme.
Oil marketing companies had previously raised the price of LPG cylinders by ₹50 in July, following two hikes in May.
This recent reduction in price is bound to be a much-welcomed respite for consumers amidst the backdrop of mounting inflation. July witnessed a surge in retail inflation to 7.44% from June’s 4.87%, with a notable 11.5% surge in food prices. This represents the swiftest pace of retail inflation since April 2022 and the first instance of prices surpassing the 7% mark since September 2022. Rural dwellers faced a slightly higher overall inflation rate of 7.63% in July, according to data from the National Statistical Office.
Facing criticism from the Opposition regarding high inflation, the government’s decision to reduce LPG prices also coincides with upcoming assembly elections in five states and the general elections slated for 2024. Cooking gas is a particularly sensitive commodity due to its significant impact on household budgets.
Taking to the social media platform X, formerly known as Twitter, the Prime Minister conveyed that this move would prove beneficial for “my sisters” and enhance their daily lives.
Hardeep Singh Puri, the Minister of Petroleum, echoed this sentiment on X, stating, “PM Sh @narendramodi Ji has taken the bold step of reducing LPG cylinder price by ₹200/cylinder for all LPG consumers (33 crore connections). PM Ujjwala Yojana consumers will continue to receive the subsidy of ₹200/cylinder in their accounts.”