Kumar vikram, Chancellor of the Birla Institute of Technology and Science

By Kumar VikramNew Delhi, March 5 While a recent hike of Rs 50 in the price of the 14.2 kg domestic liquefied petroleum gas (LPG) cylinder led to the cost of the cylinder touching Rs 1,103, data has disclosed that the price has registered a rise of nearly 56 per cent in the last four years.The retail selling price (RSP) of a domestic LPG cylinder (14.2 Kg) on April 1, 2019 was Rs 706.50 which increased to Rs 744 in 2020, Rs 809 in 2021 and Rs 949.50 in 2022. The price increased to Rs 1,103 from Rs 1053 on March 1 this year.While the price of the domestic LPG cylinder has recorded a substantial rise over the last few years, government data disclosed that the total subsidy on LPG has come down significantly over the last few years.Details of the subsidy on LPG given by the government during each of the last four years showed that it was Rs 37,209 crore in 2018-19 and came down to Rs 24,172 crore in 2019-20, Rs 11,896 crore in 2020-21 and Rs 1,811 crore in 2021-22.As per the information from the Ministry of Petroleum, the prices of petroleum products including LPG in the country are linked to the price of respective products in the international market. "The average Saudi CP prices on which the domestic LPG prices are based, increased from US$ 454/MT to US$ 693/MT during 2019-20 to 2021-22.""During 2022-23 the average Saudi CP has further risen to US$ 710 /MT till February 2023. However, the government continues to modulate the effective price of domestic LPG. Public sector oil marketing companies have suffered huge losses on sale of domestic LPG," said the Ministry in a recent Parliament reply.The Pradhan Mantri Ujjwala Yojana (PMUY) was launched in 2016 to provide deposit free LPG connections to women members of poor households under which 8 crore connections were given. Under Ujjwala 2.0, all PMUY beneficiaries are provided a free first refill and stove as well, in addition to deposit free LPG connections. As on February 1, 2023, 1.6 crore connections have been given under Ujjwala 2.0.During the Covid-19 pandemic, as a pro-poor initiative, the government announced a scheme for providing upto three free of cost LPG refills to Ujjwala beneficiaries from April 1, 2020 under the Pradhan Mantri Garib Kalyan Package (PMGKP).Oil marketing companies (OMCs) transferred Rs 9670.41 crore to the bank accounts of PMUY beneficiaries for buying LPG refills and PMUY beneficiaries availed 14.17 crore refills under the scheme. To further encourage LPG usage by PMUY beneficiaries, from May 2022, the government has started an additional targeted subsidy of Rs 200 per 14.2 kg refill to PMUY consumers upto 12 refills in a year for FY 2022-23.Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Home

City

Latest News

Cricket

LT Premium

National

International

Maharashtra

Opinions

Chhatrapati Sambhajinagar

Nagpur

Entertainment

Photos

Business

Technology

Sports

Lifestyle

Social Viral

Lokmat Games

Health

Narendra Modi

Lok Sabha Election 2024

Heatwave In India

Mumbai Water Cut

Maharashtra Lok Sabha Election

IPL 2024

Kumar VikramFOLLOW

Kumar vikram, Latest News

Politics :68 Smart Cities haven't achieved physical targets, says House panel

By Kumar Vikram New Delhi, April 9 A Parliamentary Committee has noted contrasting differences in the completion of ... ...

Politics :Candidates now need to account for spending on virtual campaigns

By Kumar Vikram New Delhi, April 2 With the increasing trend of virtual campaigns by candidates and political ... ...

National :Jumbo Jeopardy: 270 elephants lost to electrocution, poaching, accidents in 3 years

By Kumar Vikram New Delhi, March 19 Even as the government has increased the focus on conservation of ... ...

International :Domestic gas cylinder prices up by 56% in 4 years; hefty drop in subsidy

By Kumar Vikram New Delhi, March 5 While a recent hike of Rs 50 in the price of ... ...