Gas Cylinder Prices Change, Reduced Subsidy On Electric Two-Wheelers, Banking Holidays, And Stricter Cough Syrup Export Rules Start
On the first of every month, several important government rules and changes are implemented that directly impact the country's citizens. This month, there are notable adjustments in the prices of electric vehicles and LPG cylinders, as well as new initiatives and campaigns.
Regarding LPG prices, petroleum and oil marketing companies have updated the rates of commercial cylinders. In Delhi, the price of a commercial cylinder has been reduced by Rs 83.5, making it Rs 1773. However, there have been no changes in the prices of domestic cylinders, which remain unaffected.
In terms of electric vehicles, the government has issued a notice stating that the subsidy on two-wheeler electric vehicles has been reduced from Rs 15,000 per kilowatt to Rs 10,000 per kilowatt. Consequently, the cost of purchasing an electric two-wheeler can increase by up to Rs 25,000.
The Reserve Bank of India (RBI) has also launched the "100 Days 100 Payments" campaign, which will run for 100 days starting from June 1. The objective of this campaign is to identify the rightful owners of unclaimed amounts in banks across the country and return the funds to them.
Furthermore, the Directorate General of Foreign Trade (DGFT) has issued a notice stating that from June 1, the export of cough syrup will only be permitted after proper testing. Exporters must present a government laboratory certificate to the authorities before exporting the cough syrup.
In terms of banking, the RBI's holiday list for June reveals that banks will remain closed for 12 days. Additionally, it has been announced that the circulation of 2000 rupee notes will be discontinued, and the process of exchanging these notes started on May 23 and will continue until September 30.
In summary, the first day of this month brings several changes that impact citizens' daily lives. While the prices of commercial LPG cylinders have decreased, there are no alterations in domestic cylinder prices. However, the cost of purchasing electric two-wheelers has increased due to reduced subsidies. The RBI's "100 Days 100 Payments" campaign aims to return unclaimed amounts to their rightful owners, while the export of cough syrup now requires government laboratory certification. Additionally, banks will remain closed for 12 days in June, and the process of phasing out 2000 rupee notes is ongoing.
