New Delhi: Union Finance Minister would present the second and eighth complete budgets of Modi government 3.0.
On February 1, 2025, she will present the budget in the Lok Sabha, with each segment awaiting buckets of relief. Everyone from laborers to farmers to poorer people provides unconditional prayers to the government to open the coffers for them.
Discussion is also concurring that the government may consider a reduction in the price of the LPG cylinder and also likely a general budget in the fiscal year 2025-2026. Any reduction in the price of the LPG cylinders forms will prove to be helpful for the millions of crore users. But it will certainly create an excess of problems for the government too.
If the proposal is accepted, Indian Oil Corporation (IOC), Bharat Petroleum Corporation Limited (BPCL), and Hindustan Petroleum Corporation Limited (HPCL) may be able to make some losses. This, if effected, is expected to lessen the financial burden on household customers, as it may possibly see a reduction in route-to-MTP pricing for LPG cylinders as well as granting provides for LPG cooking gas cylinders.
In India, a considerable section of the population uses cooking gas cylinders on a daily basis. The government has yet to go public with any.
How much does it cost now?
In India, LPG cylinders are now priced a tad more than Rs 800. The figures differ from city to city. Profound relief from inflation may be achieved for the public by immediate announcement of a raise in subsidies by the government.
Currently, in the capital, Delhi, an LPG cylinder costs Rs.803.Method of description will be through a gift.
In Mumbai, you can purchase an LPG cylinder for a total of Rs.802.50, while in Kolkata, the capital of West Bengal, the price for a petrol cylinder is Rs 829. In Chennai, that of a petrol cylinder at 818.50 Rupees.
No price adjustments were made since August 2023, when the government last lowered the residential petrol cylinder price by almost Rs.100.
The budget may make a landmark statement
On February 1, 2025, the Modi administration of the Centre will unveil its budget. Hopes are high that this will translate into a good amount for everyone. There are expectations of some big announcements as well from both the corporate sector and the weavers. However, none have been linked with any formal announcement on what the budget is likely to contain. All such speculations are media-driven.