Nirmala Sitharaman Announces Subsidy Of Rs 200 Per Gas Cylinder

Finance Minister Nirmala Sitharaman has made several key announcements today that may include a sharp decline in excise duty on petrol and diesel prices. Among the top 5 announcements that the FM has made today, one of the key announcements includes a subsidy of Rs 200/gas cylinder to more than 9 crore beneficiaries of Pradhan Mantri Ujjwala Yojna.

The Central Government has decided to provide a subsidy on LPG cylinders i.e. Rs 200 per cylinder.

The finance minister took to Twitter for announcing all these vital dlecisions of the Narendra Modi-led Central Government. She said, "This year the Government will give a subsidy of Rs 200 per gas cylinder (up to 12 cylinders) to over 9 crore beneficiaries of Pradhan Mantri Ujjwala Yojna. This will help our mothers and sisters. This will have a revenue implications of around Rs 6100 crore a year." Below is the Tweet of of Nirmala Sitharaman:

Earlier, India's retail inflation, measured by the Consumer Price Index (CPI) surged to 7.79 percent in the month of April due to rising fuel and food prices, according to the data released by the statistics ministry.

The rise in the retail inflation was anticipated following a hike in fuel prices after state polls earlier this year in March. The hike in the energy prices all across the globe ever since Russia-Ukraine war broke out also contributed to the rise in inflation.

Meanwhile, India's inflation based on Wholesale Price Index (WPI) surged to 15.08% for the month of April from the 14.55% in the March month, according to commerce ministry data released on May 17.