Good news: LPG cylinder subsidy is zero, know how much you benefit?

• Good news for government and consumers regarding LPG cylinder amid Corona crisis in the country
• Government is getting very cheap LPG due to steep fall in crude oil and gas prices

new Delhi. There has been good news for the government and consumers about LPG cylinders amid the Corona crisis in the country. Due to the steep fall in the prices of crude oil and gas in the international market, the government is now getting very cheap LPG. This is the reason that the government is no longer having to spend any subsidy in the domestic market. Its opinion is that now subsidies on LPG cylinders have reached zero. The shocking thing is that from this month the government will earn Rs 120 per cylinder even after subsidizing the consumer.

One reason for this is that for the last few months, the government had raised prices on non-subsidized cylinders for domestic consumers. That is, the government had kept the prices higher, and the gas has become cheaper in the international market. As a result, the subsidy became almost zero. Let us tell you that in January 2015, the Direct Benefit Transfer DBT Scheme was launched by the Central Government. Under this scheme, consumers pay the full (market) price of LPG cylinders and the government sends their subsidy directly to their accounts.

It is worth mentioning that earlier oil companies used to sell LPG cylinders to consumers at a lower cost than the cost, though their losses were compensated by the government. But the government changed the system to stabilize the prices of non-subsidized cylinders between October 2017 and July 2019.

Also Read: Kane Williamson leaves a hilarious response on Virat Kohli’s picture with him

The post Good news: LPG cylinder subsidy is zero, know how much you benefit? appeared first on informalnewz.