Union finance minister Nirmala Sitharaman said the Centre will reduce the central excise duty on petrol by ₹8 per litre and on diesel by ₹6 per litre.
The Centre has decided to reduce the central excise duty on petrol by ₹8 per litre and on diesel by ₹6 per litre, Union finance minister Nirmala Sitharaman said on Saturday. The move will reduce the price of petrol by ₹9.5 per litre and of diesel by ₹7 per litre, she added.
“It will have a revenue implication of around ₹1 lakh crore per year for the government,” the finance minister said in a series of tweets.
Sitharaman also urged state governments to implement a similar cut.
“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 tweeted.
She also announced that the Centre will give a subsidy of ₹200 per gas cylinder (up to 12 cylinders) to over nine crore beneficiaries of the Pradhan Mantri Ujjwala Yojana. “This will help our mothers and sisters. This will have a revenue implication of around ₹6,100 crore a year,” she added.
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