In a step to bring down the fuel prices, the Centre 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 Minister of Finance Minister Nirmala Sitharaman announced, pointing out that it will have revenue implication of around Rs 1 lakh crore per year for the government.
She also encouraged the 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 said.
