BIG RELIEF; PETROL AND DIESEL PRICES DROPS, SUBSIDY ON DOMESTIC GAS CYLINDERS ; KNOW IN DETAIL
The whole country was stressed with frequent increasing of petrol and diesel prices ; finally the centre took it seriously to reduce the citizens stress level by cutting excise duty on petrol and diesel rates.
New Delhi (The Quiver) : On saturday evening, finally a relieving news came for the whole country after Union Finance Minister Nirmala Sitharaman announced to cut excise duty on petrol and diesel .The centre has finally cut excise duty on petrol and diesel by Rs 8 and Rs 6 per litre respectively. This will reduce the price of petrol by Rs 9.5 per litre and of diesel by Rs 7 per litre.
It is much awaited to see after Centre, what initiative will be taken by state government to cut off excise duty on petrol and diesel prices?
Sitharaman further announced, “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”.
Custom duties on raw materials and intermediaries for plastic products which have high import dependence has also been reduced . Sitharaman announced, “We are also reducing the customs duty on raw materials & intermediaries for plastic products where our import dependence is high. Import duty on some raw materials of steel will be reduced. Export duty on some steel products will be levied”.
Measures are being taken up to improve the availability of Cement and through better logistics to reduce the cost of cement, she added.
