Latest news with #Ujjwala2.0
Mint
5 days ago
- Business
- Mint
Cabinet greenlights ₹30,000 crore fuel payout, new I-T bill, infra projects
The Union cabinet approved a massive ₹ 51,407 crore spending plan on Friday, addressing key areas from infrastructure and energy subsidies to a new version of its direct tax law. The new Income Tax Bill, 2025, which incorporates feedback from a parliamentary committee, will be introduced in the Lok Sabha on Monday. The spending package includes a significant payout to state-owned fuel retailers for past losses and funds for a new highway, a regional development plan for the Northeast, and a technical education scheme. A substantial portion of the budget— ₹ 30,000 crore—has been earmarked to compensate the country's three public sector oil marketing companies: Indian Oil Corp., Bharat Petroleum Corp., and Hindustan Petroleum Corp. These firms have absorbed losses from selling cooking gas (LPG) at government-regulated prices while global prices remained high. The payment will be made in 12 installments, ensuring the companies can continue to procure LPG and maintain their capital expenditure, according to a government statement. The Cabinet has also sanctioned a targeted subsidy of ₹ 12,000 crore for free cooking gas connections under the Ujjwala scheme, for FY26. This programme provides a subsidy of ₹ 300 for each 14.2 kg LPG cylinder, for up to nine refills per year. Under the Ujjwala 2.0 initiative, all beneficiaries receive a deposit-free LPG connection, which includes the cylinder, pressure regulator, Suraksha hose, domestic gas consumer card, and installation charges. The first refill and stove are also provided free of charge, with all costs borne by the government or the fuel retailers. India imports approximately 60% of its LPG requirements. To shield PMUY beneficiaries from the impact of sharp fluctuations in international prices and to encourage sustained usage of LPG, the government first introduced a targeted subsidy of ₹ 200 per 14.2 kg cylinder in May 2022. This subsidy was subsequently increased to ₹ 300 in October 2023. The strategic intervention has been successful, with the average per capita consumption of PMUY consumers improving from around 3 refills in 2019-20 to 4.47 during FY24-25, demonstrating the scheme's positive impact on a national level. The cabinet also approved the revised Income Tax Bill, 2025, which seeks to simplify India's six-decade-old direct tax law, said two persons familiar with the development. The revised bill will be tabled in the Lok Sabha on Monday, the people said. It incorporates most of the recommendations of a select committee of Parliament, chaired by Bharatiya Janata Party MP Baijayant Panda, that reviewed the draft of the proposed law, they said, speaking on the condition of anonymity. Once passed, it will replace the Income-Tax Act, 1961. The previous version of the Bill introduced in the Lok Sabha in the Budget session of Parliament on 13 February has been formally withdrawn, the government said in a statement. Almost all suggestions of the select committee have been accepted, it said. 'Suggestions have also been received from other sources, which are required to convey the legislative meaning.' A fresh bill will be introduced in the Lok Sabha in due course, the statement said. One of the persons quoted earlier said, 'To avoid confusion by multiple versions of the Bill and to provide a clear and updated version with all changes incorporated, the new version of the Income Tax Bill will be introduced for the consideration of the House on Monday.' Mint had reported on Thursday that the cabinet was set to consider the revised bill on Friday. Queries emailed to the finance ministry and to the cabinet secretariat on Friday remained unanswered at the time of publishing. The Cabinet has approved a new Special Development Package (SDP) with a total outlay of ₹ 7,250 crore for the states of Assam and Tripura. The primary goal is to promote peace, foster inclusive development, and rehabilitate affected communities. The funds will be utilized for a range of projects, including infrastructure improvement, job creation, and providing better health services, education, and skill development. Of the total amount, the central government will contribute ₹ 4,250 crore, while the Assam government will provide the balance ₹ 3,000 crore. This initiative is expected to bring stability, integrate affected communities into the national mainstream, and give a major push to tourism in the region, positioning it as a long-term investment in social harmony and economic progress. The Cabinet also greenlit a major infrastructure project with a capital cost of ₹ 2,157 crore for the construction of a new 4-lane highway section from Marakkanam to Puducherry on National Highway-332A. This project addresses the significant congestion on the existing two-lane highway and associated state highways, which are critical for connectivity between Chennai, Puducherry, Viluppuram, and Nagapattinam. The project will upgrade approximately 46 km of NH-332A to a modern 4-lane configuration. This upgrade will not only decongest the existing corridor and improve safety but also cater to the mobility needs of the rapidly growing towns in the region. The new alignment will seamlessly integrate with other major national and state highways, as well as key multimodal transport hubs, including two railway stations, two airports, and a minor port. This will facilitate the faster movement of goods and passengers, boosting regional economic growth and tourism. The project is expected to generate significant employment, with approximately 8 lakh person-days of direct and 10 lakh person-days of indirect employment, opening new avenues for growth and prosperity in the surrounding areas. The government also cleared a new scheme called 'MERITE' (Modernizing Education and Research in Technical Institutions) with a budget of ₹ 4,200 crore. The five-year programme, partly funded by the World Bank, aims to improve the quality of technical education in 275 engineering and polytechnic institutions across India.
Mint
5 days ago
- Business
- Mint
Cabinet greenlights ₹30,000 crore fuel payout, new I-T bill, infra projects
The Union cabinet approved a massive ₹ 51,407 crore spending plan on Friday, addressing key areas from infrastructure and energy subsidies to a new version of its direct tax law. The new Income Tax Bill, 2025, which incorporates feedback from a parliamentary committee, will be introduced in the Lok Sabha on Monday. The spending package includes a significant payout to state-owned fuel retailers for past losses and funds for a new highway, a regional development plan for the Northeast, and a technical education scheme. A substantial portion of the budget— ₹ 30,000 crore—has been earmarked to compensate the country's three public sector oil marketing companies: Indian Oil Corp., Bharat Petroleum Corp., and Hindustan Petroleum Corp. These firms have absorbed losses from selling cooking gas (LPG) at government-regulated prices while global prices remained high. The payment will be made in 12 installments, ensuring the companies can continue to procure LPG and maintain their capital expenditure, according to a government statement. The Cabinet has also sanctioned a targeted subsidy of ₹ 12,000 crore for free cooking gas connections under the Ujjwala scheme, for FY26. This programme provides a subsidy of ₹ 300 for each 14.2 kg LPG cylinder, for up to nine refills per year. Under the Ujjwala 2.0 initiative, all beneficiaries receive a deposit-free LPG connection, which includes the cylinder, pressure regulator, Suraksha hose, domestic gas consumer card, and installation charges. The first refill and stove are also provided free of charge, with all costs borne by the government or the fuel retailers. India imports approximately 60% of its LPG requirements. To shield PMUY beneficiaries from the impact of sharp fluctuations in international prices and to encourage sustained usage of LPG, the government first introduced a targeted subsidy of ₹ 200 per 14.2 kg cylinder in May 2022. This subsidy was subsequently increased to ₹ 300 in October 2023. The strategic intervention has been successful, with the average per capita consumption of PMUY consumers improving from around 3 refills in 2019-20 to 4.47 during FY24-25, demonstrating the scheme's positive impact on a national level. The cabinet also approved the revised Income Tax Bill, 2025, which seeks to simplify India's six-decade-old direct tax law, said two persons familiar with the development. The revised bill will be tabled in the Lok Sabha on Monday, the people said. It incorporates most of the recommendations of a select committee of Parliament, chaired by Bharatiya Janata Party MP Baijayant Panda, that reviewed the draft of the proposed law, they said, speaking on the condition of anonymity. Once passed, it will replace the Income-Tax Act, 1961. The previous version of the Bill introduced in the Lok Sabha in the Budget session of Parliament on 13 February has been formally withdrawn, the government said in a statement. Almost all suggestions of the select committee have been accepted, it said. 'Suggestions have also been received from other sources, which are required to convey the legislative meaning.' A fresh bill will be introduced in the Lok Sabha in due course, the statement said. One of the persons quoted earlier said, 'To avoid confusion by multiple versions of the Bill and to provide a clear and updated version with all changes incorporated, the new version of the Income Tax Bill will be introduced for the consideration of the House on Monday.' Mint had reported on Thursday that the cabinet was set to consider the revised bill on Friday. Queries emailed to the finance ministry and to the cabinet secretariat on Friday remained unanswered at the time of publishing. The Cabinet has approved a new Special Development Package (SDP) with a total outlay of ₹ 7,250 crore for the states of Assam and Tripura. The primary goal is to promote peace, foster inclusive development, and rehabilitate affected communities. The funds will be utilized for a range of projects, including infrastructure improvement, job creation, and providing better health services, education, and skill development. Of the total amount, the central government will contribute ₹ 4,250 crore, while the Assam government will provide the balance ₹ 3,000 crore. This initiative is expected to bring stability, integrate affected communities into the national mainstream, and give a major push to tourism in the region, positioning it as a long-term investment in social harmony and economic progress. The Cabinet also greenlit a major infrastructure project with a capital cost of ₹ 2,157 crore for the construction of a new 4-lane highway section from Marakkanam to Puducherry on National Highway-332A. This project addresses the significant congestion on the existing two-lane highway and associated state highways, which are critical for connectivity between Chennai, Puducherry, Viluppuram, and Nagapattinam. The project will upgrade approximately 46 km of NH-332A to a modern 4-lane configuration. This upgrade will not only decongest the existing corridor and improve safety but also cater to the mobility needs of the rapidly growing towns in the region. The new alignment will seamlessly integrate with other major national and state highways, as well as key multimodal transport hubs, including two railway stations, two airports, and a minor port. This will facilitate the faster movement of goods and passengers, boosting regional economic growth and tourism. The project is expected to generate significant employment, with approximately 8 lakh person-days of direct and 10 lakh person-days of indirect employment, opening new avenues for growth and prosperity in the surrounding areas. The government also cleared a new scheme called 'MERITE' (Modernizing Education and Research in Technical Institutions) with a budget of ₹ 4,200 crore. The five-year programme, partly funded by the World Bank, aims to improve the quality of technical education in 275 engineering and polytechnic institutions across India. The initiative will focus on modernizing courses, encouraging research, and increasing student employability through internships and skill development. By aligning with the National Education Policy-2020, MERITE is designed to benefit over 7.5 lakh students and is expected to significantly boost placement rates and reduce unemployment among engineering graduates.
Hans India
5 days ago
- Business
- Hans India
Cabinet extends LPG subsidy for PMUY consumers at a cost of Rs 12,000 crore in 2025-26
New Delhi: The Union Cabinet, chaired by Prime Minister Narendra Modi, on Friday approved the targeted subsidy of Rs 300 per 14.2 kg cylinder for up to 9 refills per year (and proportionately pro-rated for 5 kg cylinder) to the beneficiaries of the Pradhan Mantri Ujjwala Yojana (PMUY) during FY 2025-26 with an expenditure of Rs 12,000 crore. The Pradhan Mantri Ujjwala Yojana (PMUY) was launched in May 2016 with the objective to provide deposit-free LPG connections to adult women from poor households across the country. As of July 1, 2025, there are about 10.33 crore PMUY connections across the country. All PMUY beneficiaries receive a deposit-free LPG connection, which includes a security deposit of the cylinder, pressure regulator, Suraksha Hose, domestic gas consumer card booklet, and installation charges. As per the existing modalities of Ujjwala 2.0, the first refill and stove are also provided free of cost to all beneficiaries. PMUY beneficiaries are not required to make any payments for the LPG connection or the first refill or stove, as the cost for these is borne by the Centre through the public sector oil marketing companies. Under the targeted subsidy to Pradhan Mantri Ujjwala Yojana consumers to make LPG more affordable for them and thereby ensuring sustained usage of the cooking gas by these households, the Government 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. The objective of the scheme is to shield PMUY beneficiaries from the impact of sharp fluctuations in international prices of LPG since 60 per cent of India's LPG requirement is met through imports. 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). The average per capita consumption (PCC) of PMUY consumers, which was only about 3 refills in 2019-20 and 3.68 refills in 2022-23, has improved to about 4.47 refills during FY 2024-25, reflecting the success of the scheme.
Time of India
5 days ago
- Business
- Time of India
Cabinet okays ₹12,000 crore for LPG subsidy to 10.33 crore PMUY beneficiaries in FY26
New Delhi: The Union Cabinet approved a targeted subsidy of ₹300 per 14.2 kg LPG cylinder for up to nine refills per year for Pradhan Mantri Ujjwala Yojana (PMUY) beneficiaries in 2025-26, entailing an expenditure of ₹12,000 crore. The decision will benefit about 10.33 crore PMUY connections across the country as on July 1, 2025. The subsidy will also be proportionately applied for 5 kg cylinders, and the cost will be borne by the Government of India. PMUY, launched in May 2016, provides deposit-free LPG connections to adult women from poor households. The connection includes the security deposit of the cylinder, pressure regulator, Suraksha hose, Domestic Gas Consumer Card booklet, and installation charges. Under the existing Ujjwala 2.0 scheme, the first refill and stove are provided free of cost to beneficiaries. India meets about 60 per cent of its LPG requirement through imports. The targeted subsidy aims to shield PMUY consumers from fluctuations in international LPG prices and to ensure sustained usage of LPG. The targeted subsidy was first introduced in May 2022 at ₹200 per 14.2 kg cylinder for up to 12 refills annually, and was increased to ₹300 per cylinder in October 2023. Average per capita consumption of PMUY households has risen from about three refills in 2019-20 and 3.68 refills in 2022-23 to 4.47 refills in 2024-25.
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Business Standard
6 days ago
- Business
- Business Standard
Cabinet approves ₹300 LPG subsidy for PMUY beneficiaries in 2025-26
The ₹300 per cylinder subsidy will be provided for up to 9 refills in FY 2025-26, benefiting over 10 crore PMUY consumers and ensuring affordable access to clean cooking fuel Vijay Prasad Sharma New Delhi The Union Cabinet, led by Prime Minister Narendra Modi, on Friday approved the continuation of a targeted subsidy of ₹300 per 14.2 kg liquefied petroleum gas (LPG) cylinder for beneficiaries under the Pradhan Mantri Ujjwala Yojana (PMUY), according to an official statement. This subsidy will apply for up to 9 refills per year (with a proportionate rate for 5 kg cylinders) during the financial year 2025-26, involving a total expenditure of ₹12,000 crore. Targeted LPG subsidy for PMUY consumers India depends on imports for around 60 per cent of its LPG needs. To protect PMUY users from global price changes and to ensure continued and affordable LPG usage, the Government started offering a subsidy of ₹200 per 14.2 kg cylinder in May 2022, covering up to 12 refills annually. This was also applied on a pro-rata basis for 5 kg cylinders. Increase in LPG usage among PMUY households There has been noticeable improvement in LPG usage among PMUY beneficiaries. The average per capita consumption (PCC), which was around 3 refills in 2019-20 and 3.68 refills in 2022-23, rose to approximately 4.47 refills during FY 2024-25. About the Pradhan Mantri Ujjwala Yojana Launched in May 2016, the PMUY aims to provide deposit-free LPG connections to adult women from low-income households across India. As of July 1, 2025, there are approximately 10.33 crore PMUY connections across the country. Each PMUY beneficiary receives a deposit-free connection that includes the security deposit for the cylinder, pressure regulator, Suraksha hose, DGCC booklet, and installation charges. Under Ujjwala 2.0, the first refill and a stove are also given free of cost. The entire cost for these items is covered by the government or Oil Marketing Companies, so beneficiaries do not need to pay anything for the initial setup.
