Fuel Prices Cut, Subsidy On Gas Cylinders: Centre's Big Move to curb Inflation

Finance Minister Nirmala Sitharaman appealed to states to implement a similar cut to assure benefit to the common man

New Delhi: In a big announcement from Central Government, The price of petrol will come down by ₹ 9.5, while the diesel will be cheaper by ₹ 7 as Finance Minister announced a slash in central excise duty on fuel prices to curb rising inflation.

Finance Minister Ms Sitharaman said, "the central excise duty on petrol has been cut by ₹ 8 per litre and the same on diesel has been cut by ₹ 6 per litre." According to the government, it will lose ₹ 1 lakh crore by taking the cut on central excise duties.
The Finance Minister appealed to states to apply a similar cut and assure benefit to the common man.

"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," appealed Ms Sitharaman.

After the big announcement, Prime Minister Narendra Modi said, "It is always people first for us! Today’s decisions, especially the one relating to a significant drop in petrol and diesel prices will positively impact various sectors, provide relief to our citizens and further ease of living." 

Though Congress are not impressed and soon after the announcement, the official spokesperson of Congress said, "price of petrol and diesel the last two months and touched Rs 100 mark and reducing it by Rs 9 does not do justice." 

India Scanner News Network

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