There is a big update for India’s common people. Finance Minister Nirmala Sitharaman is set to unveil her eighth budget on February 1, 2025, and it is anticipated that there will be several significant announcements. Reports suggest that key updates regarding the pricing of domestic LPG gas cylinders may be included in the Union Budget 2025. The Oil Ministry has requested a budget allocation of ₹40,000 crore for LPG subsidies.
If the government agrees to this request, it could help offset the losses faced by oil companies such as Indian Oil Corporation (IOC), Bharat Petroleum Corporation Limited (BPCL), and Hindustan Petroleum Corporation Limited (HPCL). This move is expected to ease the financial burden on domestic consumers by potentially lowering LPG cylinder prices.
Currently, domestic LPG cylinders are priced at over ₹800. An increase in the subsidy within the budget could provide much-needed relief to the public amid rising inflation. However, the final outcome will only be known once the budget is officially presented. There is a strong hope among the public for effective measures to be introduced to lower LPG cylinder prices in Budget 2025.
Domestic gas cylinders will continue to be priced at Rs 803 in Delhi, Rs 829 in Kolkata, Rs 802.50 in Mumbai, and Rs 818.50 in Chennai. The government last lowered the price of domestic gas cylinders by approximately Rs 100 in August 2023, and there have been no subsequent changes to the pricing since then.