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LPG cylinders subsidy Increased: The government may announce an increase in the subsidy on LPG cylinders in the budget

LPG cylinders subsidy: In Budget 2023, the government can give some relief to the common people from rising inflation. To reduce the burden of rising gas prices on the beneficiaries of PM Ujjwala Yojana, the government may extend the subsidy for one more year.

The government had announced a subsidy of Rs 200 for up to 12 cylinders in May last year under the PM Ujjwala Yojana. In the budget (Budget 2023), the government can announce to extend the subsidy for up to 12 gas cylinders by one year. According to media reports, the government may extend this scheme by one more year to increase the LPG coverage to 100 percent.

Government may increase subsidy on gas cylinder

Finance Minister Nirmala Sitharaman had given a subsidy of Rs 200 per cylinder to 9 crore beneficiaries under the PM Ujjwala Yojana to reduce the burden of inflation. The subsidy will put an additional burden of Rs 6,100 crore on the exchequer in the current financial year. However, the subsidy may be extended for next year as the reduction in global commodity prices and energy prices is likely to reduce the burden on the government in terms of lower subsidy bill.

The budget will be presented on February 1

Finance Minister Nirmala Sitharaman will present the Union Budget for 2023-24 on 1 February. At the same time, the Economic Survey will be presented on 31 January. This budget will be the last full budget of the Modi government because after this the Lok Sabha elections are to be held in the middle of the year 2024. In such a situation, it is believed that the budget can be populist.