The big news concerning the LPG cylinder subsidy has come to the fore, and it is being reported that domestic gas prices may be raised shortly. Crude oil prices have surged as a result of the Russia-Ukraine war.
Meanwhile, there is persistent speculation that the cost of an LPG cylinder may surpass Rs.1000.
The government's stance on the rising cost of LPG cylinders is yet to be notified. However, according to an internal government assessment, consumers are willing to spend up to Rs.1000 for a single cylinder. The government may take two decisions related to LPG cylinders. First, either the government will provide cylinders without subsidy. Second, some selected people will be given the benefit of the subsidy.
Nothing has yet been cleared by the government about providing LPG subsidy.
However, according to information received so far, the Rs.10 lakh income rule would remain in effect, and beneficiaries of the Ujjwala scheme will continue to get the benefit of the subsidy. Let us inform you that the subsidy for the remaining people may be terminated. Also, the LPG subsidy has begun to arrive in eligible customers’ accounts over the last several months. The government's expenditure on subsidy stood at Rs.3559 crores for the financial year 2021 while in the financial year 2020, this expenditure was Rs.24468 crores.
