New Delhi, Aug 29 (PTI) The government's announcement to cut cylinder prices of domestic cooking gas is a gift to the poor and middle class, Commerce and Industry Minister Piyush Goyal said on Tuesday.

The government on Tuesday announced a Rs 200 per cylinder cut in prices of domestic cooking gas to soften the impact of rising inflation on households.

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At present, a 14.2-kg LPG cylinder in the national capital costs Rs 1,103 - more than double the rate it came for in May 2020.

It will cost Rs 903 when the decision is implemented from Wednesday.

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Goyal said that with this decision, the festival of Raksha Bandhan has brought a spring of happiness.

"Under the leadership of the Prime Minister @NarendraModi ji, the government has given a gift to the poor and middle class by reducing the prices of domestic gas cylinders by Rs 200 and by giving a subsidy of Rs 400 to Ujjwala beneficiaries. Thanks to Modi ji for this important decision," Goyal said in a message on social network platform 'X'.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)