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Nagpur City

Centre reduces excise duty on petrol by Rs 8, diesel by Rs 6 per litre

by TLN Team May 21, 2022May 21, 2022
written by TLN Team May 21, 2022May 21, 2022
Centre reduces excise duty on petrol by Rs 8, diesel by Rs 6 per litre

Finance Minister Nirmala Sitharaman on Saturday made a big announcement.

FM announced that Centre has decided to reduce excise duty on petrol by Rs 8 per litre and on diesel by Rs 6 per litre to avoid increase in fuel prices that were necessitated due to surge in international oil prices.

The move will have revenue implication of around Rs 1 trillion for the government, she said.”

We are reducing the Central excise duty on Petrol by Rs 8 per litre and on Diesel by Rs 6 per litre. This will reduce the price of petrol by Rs 9.5 per litre and of Diesel by Rs 7 per litre,” Sitharaman tweeted.

“I wish to exhort all state governments, especially the states where reduction wasn’t done during the last round (November 2021), to also implement a similar cut and give relief to the common man,” she added.

FM also said that “this year, we will give a subsidy of Rs 200 per gas cylinder (upto 12 cylinders) to over 9 crore beneficiaries of Pradhan Mantri Ujjwala Yojana.

This will help our mothers and sisters. This will have a revenue implication of around Rs 6100 crore a year”

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