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| Centre cuts excise duty on petrol by Rs 8, diesel by Rs 6 per litre | | |
Agencies
NEW DELHI, May 21: Providing major relief to common man from high fuel prices, Finance Minister Nirmala Sitharaman today announced that the central excise duty on petrol will be slashed by Rs 8 per litre and on diesel by Rs 6 per litre. The Minister said it will reduce the price of petrol by Rs 9.5 per litre and of diesel by Rs 7 per litre. She said this will have "revenue implication" of around Rs 1 lakh crore per year for the government. The Minister added that state governments, especially those which did not reduce excise earlier should also do so. Sitharaman also announced that the government will give a subsidy of Rs 200 per gas cylinder, upto 12 cylinders, to over nine crore beneficiaries of Pradhan Mantri Ujjwala Yojana. “This will help our mothers and sisters. This will have a revenue implication of around Rs 6,100 crore a year,” she said. |
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