(Image source from: Businesstoday.in)

As a big relief to the common public, the Union Cabinet has decided to cut the Liquified Petroleum Gas (LPG) prices of domestic cylinders by Rs 200 for all users as a gift of Raksha Bandhan, which means an 18 per cent reduction of the price of a 14.4 kg gas cylinder.

Information and Broadcasting Minister Anurag Singh gave a briefing about the decision taken by the union cabinet. He said the price cut of Rs 200 is a gift to women of the country by Prime Minister Narendra Modi on the occasion of Onam and Raksha Bandhan.

Narendra Modi has chaired the cabinet meeting. They also decided to add 75 lakh Ujjawala gas beneficiaries to the current 9.6 Cr beneficiaries list.

With this Rs 200 price cut, Ujjwala Yojana scheme beneficiaries will enjoy a Rs 400 price cut. The cooking gas cylinder now will be available at Rs 703 in Delhi and Rs 702.50 in Mumbai for Ujjawala beneficiaries.

Ahead of general elections in 2024 and many state elections, the price cut on LPG cylinders will show an impact on many middle-class families. With this new subsidy, the Government has to spend over Rs 4000 Cr and Rs 7600 Cr has already been budgeted in the current fiscal year for this purpose.