In fight against inflation, govt cuts excise on fuel

FM also announces additional fertiliser subsidy of ₹1.10L-cr to aid farmers, ₹200 per LPG refill under Ujjwala scheme to help households

NEW DELHI: Union finance minister Nirmala Sitharaman on Saturday announced a host of measures to provide relief to the people from rising inflation that included slashing of central duties on petrol by ₹8 a litre and diesel by ₹6, giving ₹200 per cylinder cooking gas subsidy to 90 million poor households, reducing customs duty on plastic products, iron and steel, and taking measures to ensure availability of cement in adequate quantity.

The sharp reduction of central levies on auto fuels, the second in six months, will become effective from Sunday. Experts said the government declared a war on inflation through the measures announced on Saturday.

“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 per year for the government,” the Union finance minister said in a tweet.

Soon after the announcement, Prime Minister Narendra Modi said that people are the first priority for his government. “It is always people first for us! Today’s decisions, especially the

In addition to the fertiliser subsidy of ₹1.05 lakh crore in the Budget, additional ₹1.10 lakh crore is being provided to cushion the farmers

A reduction in the customs duty on raw materials and intermediaries for plastic products where import dependence is high

It is always people first for us! Today’s decisions, especially the one relating to a significant dro in petrol and diesel prices will positively impact various sectors, provide relief to our citizens an further ‘Ease of Living’.