LPG Price Cut: After domestic cooking gas, now commercial cylinder price cut, import duty also cut
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LPG Price Cut: On the first date of the month of September, the citizens of the country have been given a big gift by the central government and oil companies before the festival. There has been a big cut in the prices of commercial cylinders. Its prices have been cut by Rs 150 across the country. commercial in the last two months LPG The prices of cylinders have been reduced by about Rs.250. Earlier, on the 30th of August, the price of domestic gas cylinder was also reduced by Rs 200. Along with this, it has now been announced to give a subsidy of Rs 400 to the beneficiaries under the Ujjwala scheme. The reduction in the prices of commercial cylinders will be of great help to restaurant owners as well as sweet bakers.
Government exempts LPG imports from agriculture cess
The government has removed the 15 percent agricultural cess imposed on the import of cooking gas cylinders (LPG), liquefied propane and liquefied butane from Friday. The government had imposed a 15 percent agricultural cess on the import of these items in July. According to a notification issued by the Finance Ministry, the import of LPG, Liquefied Propane and Liquefied Butane has been completely exempted from Agriculture Infrastructure Development Cess (AIDC) with effect from September 1.
commercial cylinder price in metros
The price of commercial cylinder in the capital Delhi was Rs 1680 till the month of August. Whereas, from this month the customers will now have to pay only Rs 1522.50. While the commercial cylinder price in Kolkata was Rs 1680 last month, customers will have to pay Rs 1636 in September. The price of commercial cylinder in Mumbai has gone up to Rs 1,482, which was Rs 1,640.50 last month. Whereas, there has been better relief in the price of commercial cylinders in Chennai. Last month its price was Rs 1852, which will be only Rs 1,695 this month.
Decision taken keeping in mind the election
Experts say that in the last one or two years, the prices of cooking gas have increased and it has become a major election issue. Realizing the impact on people’s pockets due to high LPG prices, the Congress party has raised this issue vigorously. This was raised prominently in the recently concluded assembly elections in Karnataka. The party has promised to provide LPG at Rs 500 if voted to power in Madhya Pradesh. In Rajasthan too, the Congress government is providing LPG at the same price. Elections are to be held in both the states in November-December. However, Thakur refused to link the decision with the elections, saying it was a gift from the Modi government to women on the occasion of Onam and Raksha Bandhan. He did not say how the price cut would be ‘compensated’. It is believed that public sector petroleum companies selling retail fuel will reduce prices from Wednesday. Later the government will compensate for it.
7,680 crore will be spent in 2023-24
Describing the reduction in the prices of domestic cooking gas, Anurag Thakur said that LPG subsidy of Rs 200 per cylinder is being given to customers under the Ujjwala scheme, its cost will be Rs 7,680 crore in the current financial year 2023-24. Ujjwala beneficiaries are only 9.6 crore, while 33 crore consumers use LPG for cooking. The government had stopped giving subsidy on LPG in June 2020. The determination of the price of cooking gas across the country was market based. Due to this, the price of LPG cylinder in the national capital Delhi has increased to Rs 1,103, which will now be reduced by Rs 200. The only subsidy was being given to the beneficiaries of the Ujjwala Yojana. The government gives a subsidy of Rs 200 per cylinder for filling 12 cylinders in a year. If the government itself bears the burden of Rs 200 cut in prices by not putting it on the retail petroleum companies, it means that the subsidy system has been brought back.
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