In a potential game-changer for women, Budget 2024 is expected to bring relief to households grappling with soaring LPG prices.
Recognizing the financial strain on women due to high cooking gas costs, the government is contemplating significant changes in LPG subsidies.
With a focus on reducing the impact of inflation, the government is likely to augment the subsidy provided under the PM Ujjwala Scheme.
Substantial Increase in LPG Subsidy
As of now, the government extends a subsidy of Rs 300 per cylinder to beneficiaries under the PM Ujjwala scheme, subject to specific conditions.
However, in the upcoming budget, the subsidy may see a substantial rise, potentially reaching Rs 500 per cylinder.
This increase is anticipated to significantly alleviate the financial burden on households, saving Rs 500 on each LPG cylinder purchase.
Building on Previous Relief
Last October, the government had already raised the subsidy on LPG gas cylinders from Rs 200 to Rs 300.
With the current move, the government aims to further ease the financial strain on the approximately 9 crore beneficiaries under the PM Ujjwala scheme.
This subsidy, crucial for reducing household expenses, is eagerly anticipated to be enhanced to Rs 500 in the upcoming budget.
Last Year’s Positive Step
In the previous budget, the government had increased the gas subsidy from Rs 200 to Rs 300, and now there are expectations of another favorable adjustment.
Currently, Ujjwala scheme beneficiaries enjoy a subsidized LPG price of Rs 603, compared to the market rate of around Rs 903 for a 14.2 kg cylinder.
This subsidy is a lifeline for the 10.35 crore individuals benefiting from affordable gas cylinders through the Ujjwala scheme.
Anticipating Budget Impact
As Finance Minister Nirmala Sitharaman gears up to present the budget on February 1, 2024, the last budget of the Modi government’s second term, expectations are high for measures that will positively impact the lives of citizens.
The interim budget, to be presented before the Lok Sabha elections, could potentially focus on women’s welfare and reinforce the government’s support for its vote bank.
