Cabinet approves Rs 300 subsidy extension for PM Ujjawala Scheme
As of 1st March 2024, there are more than 10.27 crore PMUY beneficiaries. The total expenditure will be Rs.12,000 crore for the financial year 2024-25.
New Delhi: The Cabinet has approved the continuation of the targeted subsidy of Rs.300 per 14.2 kg cylinder (and proportionately pro-rated for 5 kg cylinder) for up to 12 refills per year to be provided to the beneficiaries of Pradhan Mantri Ujjwala Yojana (PMUY) during FY 2024-25.
As of 1st March 2024, there are more than 10.27 crore PMUY beneficiaries. The total expenditure will be Rs.12,000 crore for the financial year 2024-25. The subsidy is credited directly to the bank accounts of the eligible beneficiaries.
The government launched Pradhan Mantri Ujjwala Yojana in May 2016, to provide deposit-free LPG connections to adult women of poor households and to make LPG, a clean cooking fuel, available to rural and deprived poor households.
Read Also : Federal Bank Wraps Up FY 24 With 24% Rise in Profit, highest NII, Maintains Robust Asset QualityIndia imports about 60% of its LPG requirement to facilitate PMUY beneficiaries from the impact of sharp fluctuations in international prices of LPG and to make LPG more affordable to PMUY consumers thereby ensuring sustained usage of LPG. The government has started a targeted subsidy of Rs.200/- per 14.2 kg cylinder for up to 12 refills per annum (and proportionately pro-rated for 5 kg connections) to the PMUY consumers in May 2022.
In October 2023, the Government increased the targeted subsidy to Rs.300 per 14.2 kg cylinder for up to 12 refills per annum (and proportionately pro-rated for 5 kg connections). As of 01.02.2024, the effective price of domestic LPG for PMUY consumers is Rs.603 per 14.2 Kg LPG cylinder (Delhi).
Read Also : MMTC Ltd appoints Siddharth Mahajan as Government Nominee DirectorThe average LPG consumption of PMUY consumers has increased by 29 percent from 3.01 refills in 2019-20 to 3.87 refills (till January 2024) prorated for 2023-24. All PMUY beneficiaries are eligible for this targeted subsidy.
Read Also : Reserve Bank cancels Certificate of Registration of Acemoney (India) Limited due to irregular lending practicesNews Must Read
- WAPCOS became second Indian PSU in ADB Consulting
- Power Grid appoints Satyaprakash Dash as CS and Compliance Officer
- GE Power received orders from two state-owned PSUs and one JV entity
- SAIL-RITES JV bags Rs 818 crore wagon order from Indian Railways
- BHEL enters into Strategic Partnership Agreement with HIMA for Railway Signalling Business
- SJVN bids farewell to Smt. Geeta Kapur, CMD and Director (Personnel)
- Nilendu Kumar Singh assumes charge of CMD, CCL
- IndianOil Q4 Results: Profit plunges 52% YoY to Rs 4,838 crore
- REC Limited declares financial results, records highest ever annual net profit
- NHPC Limited to collaborate with Norwegian company