Central government reduces excise duty on fuel; know how much price petrol-diesel will reduce
On Diwali 2021, the central government has given a big gift to the common man. Relief has been given from the impact of diesel-petrol inflation. The government has reduced the excise duty on petrol and diesel. At least Rs 10 on diesel and Rs 5 on petrol will be less from tomorrow .
Relief to farmers in Rabi season
On the eve of Diwali, the government has announced reduction in excise duty on petrol and diesel. Excise duty on petrol and diesel has been reduced by Rs 5 and on diesel by Rs 10. In this sense, the reduction in fuel prices will be applicable from tomorrow i.e. from Diwali itself. The reduction in diesel prices will be a big relief for the farmers during the upcoming Rabi season.
Because of this the prices were increased
The government believes that the farmers have maintained the pace of economic growth during the lockdown with their hard work and the huge reduction in excise duty on diesel will give relief to the farmers during the coming Rabi season. In recent months, there has been a global jump in crude oil prices. As a result, the domestic prices of petrol and diesel had increased under inflationary pressure in recent weeks. During this time the world also saw all kinds of energy shortages and inflated prices. The government has tried to ensure that there is no shortage of energy in the country and commodities like petrol and diesel are available in sufficient quantity to meet our needs.
Appeal to states to reduce VAT
It has been said from the government that to give further impetus to the economy, it has been decided to reduce the excise duty on diesel and petrol significantly. The reduction in excise duty on petrol and diesel will boost consumption and keep inflation low, which will help the poor and middle class. Today’s decision is expected to give more momentum to the entire economic cycle. In order to give relief to the consumers, states have also been appealed to reduce VAT on petrol and diesel.
