Govt cuts excise duty on petrol by Rs 8, diesel by Rs 6

Team Udayavani, May 21, 2022, 7:01 PM IST

Bowing to public pressure, Finance Minister Nirmala Sitharaman on Saturday announced an Rs 8 per litre cut in excise duty on petrol and Rs 6 a litre on diesel to avoid increase in fuel prices.

Also, the government will give Rs 200 per cylinder subsidy to Ujjwala Yojana beneficiaries for 12 cylinders in a year to help ease some of the burden arising from cooking gas rates rising to record levels.

7/12 We are reducing the Central excise duty on Petrol by ₹ 8 per litre and on Diesel by ₹ 6 per litre.
This will reduce the price of petrol by ₹ 9.5 per litre and of Diesel by ₹ 7 per litre.

It will have revenue implication of around ₹ 1 lakh crore/year for the government.

— Nirmala Sitharaman (@nsitharaman) May 21, 2022

Taking to Twitter Niramala wrote, “Our government, since when PM India Narendra Modi took office, it is devoted to the welfare of the poor.We’ve taken a number of steps to help the poor and middle class. As a result, the average inflation during our tenure has remained lower than during previous governments.”

1/12 Our government, since when @PMOIndia @narendramodi took office, is
devoted to the welfare of the poor.We’ve taken a number of steps to help the poor and middle class. As a result, the average inflation during our tenure has remained lower than during previous governments.

— Nirmala Sitharaman (@nsitharaman) May 21, 2022

“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,” added Sitharaman in another tweet.