The Union government on Saturday reduced the Central excise duty on petrol by Rs 8 per litre and that on diesel by Rs 6 per litre.
“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,” Union Finance Minister Nirmala Sitharaman announced.
Opposition patties and several political groups across the country have been protesting over the constant hike in prices of petroleum products and essential commodities.
Taking to Twitter, Sitharaman said, ‘It [Excise duty cut] will have revenue implication of around Rs one lakh crore/year for the government.”
“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.
