The Union Government has reduced the Central excise duty on Petrol and on Diesel

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04 Jun, 22 10:56
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The Union Government has reduced the Central excise duty on Petrol and on Diesel

The Union Government has reduced the Central excise duty on Petrol by eight rupees per litre and on Diesel by six rupees per litre. This will reduce the price of petrol by nine rupees 50 paise per litre and of Diesel by seven rupees per litre. Finance Minister Nirmala Sitharaman announced this in a series of tweets yesterday. The Minister said, it will have revenue implication of around 1 lakh crore rupees per year for the Government.SheexhortedallStategovernments,especially the States where reduction was not done during the last round in November last year, to also implement a similar cut and give relief to the common man. Ms Sitharaman also announced that this year, the Government will give a subsidy of 200 rupees per gas cylinder upto 12 cylinders to over 9 crore beneficiaries of Pradhan Mantri Ujjwala Yojana. This will have a revenue implication of around 6100 crore rupees a year. The Government is also reducing the customs duty on raw materials and intermediaries for plastic products where the country’s import dependence is high. This will result in reduction of cost of final products. The Minister said similarly, customs duty is being calibrated on raw materials and intermediaries for iron and steel to reduce their prices. Import duty on some raw materials of steel will be reduced. Prime Minister Narendra Modi has said that financial decisions, especially the one relating to the significant drop in petrol and diesel prices will positively impact various sectors. In a tweet, Mr Modi said, it will provide relief to our citizens and further ‘Ease of Living. Home MinisterAmit Shah has said that even in this challenging global situation, the Central Government under the leadership of Prime Minister Narendra Modi has provided a huge relief to the common people. BJP President J P Nadda has lauded the Government’sdecisiontoslashtheexcisedutyonpetrol and diesel. He said, it shows Prime Minister Narendra Modi’s commitment to the welfare of the common man. CommerceandIndustryMinisterPiyushGoyal said, the Central excise duty cut on Petrol and Diesel is a major step towards easing prices. ConfederationofAllIndiaTraders SecretaryGeneral Praveen Khandelwal said, with the reduction in fuel prices the transportation cost will come down. We spoke to people belonging to various sections of society about the government’s decision.

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यह खबर निम्न श्रेणियों पर भी है: National News
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