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Home LPG costs might be lowered by Rs 200 per cylinder if the cupboard committee approves extra subsidy. At current, beneficiaries are already receiving a subsidy of Rs 200. The quantity that PMUY beneficiaries will obtain after this resolution could be Rs 400 per cylinder, stated the supply.
This improvement comes at a time when home LPG cylinders are retailing at Rs 1,103 a unit. The subsidy is credited into the financial institution accounts of eligible beneficiaries after buy of cylinders.
This subsidy will profit a 3rd of complete LPG customers within the nation.
However the sharp enhance in worldwide costs of LPG attributable to varied geopolitical causes was discouraging adoption of cooking fuel. “The subsidy is being enhanced to defend PMUY beneficiaries from excessive LPG costs,” one of many officers who confirmed the cupboard resolution advised ET.
In March this yr, the Cupboard Committee on Financial Affairs had introduced a subsidy on home LPG for as much as 12 refills per yr. An expenditure of Rs 6,100 crore was earmarked for monetary yr 2022-23 and Rs 7,680 crore for 2023-24. The centre had stated that Public Sector Oil Advertising Firms specifically Indian Oil Company Ltd. (IOCL), Bharat Petroleum Company Ltd. (BPCL) and Hindustan Petroleum Company Ltd. (HPCL) had been offering this subsidy since Could 22, 2022. Again in March 2023, the cupboard committee had prolonged subsidy of Rs 200 per LPG cylinder beneath PMUY for a interval of 1 yr.To make LPG accessible to the agricultural and disadvantaged poor households, the Central authorities launched PMUY in Could 2016, to offer deposit-free LPG connections to grownup girls of poor households. The subsidy beneath the federal government’s flagship scheme is credited on to financial institution accounts of the eligible beneficiaries.
The entire expenditure for PMUY is Rs 6,100 crore for the monetary yr 2022-23 and Rs 7,680 crore for 2023-24. With Tuesday’s resolution, the LPG subsidy allocation for fiscal 2023-24 is predicted to be revised upwards.
(With inputs from Twesh Mishra of ET Bureau)
