There is a reduction in the prices of Petrol and Diesel. This is because the government will cut excise duty on oil. That means the government will cut taxes on oils which will reduce the prices of oils. Therefore, there will be a reduction in the prices of Petrol and Diesel.
On Saturday, Finance minister Nirmala sitaraman made this statement. In her words ” We are reducing the central excise duty on petrol by Rs 8 per liter and on diesel by Rs 6 per liter. This will reduce the price of petrol by Rs 9.5 per liter and that of diesel by Rs 7 per liter”.
The government is planning to give 12 cylinders to the people on Ujwala scheme subsidiaries.
In addition to the reduction of prices of petrol and Diesel, they are also reducing custom duties on raw materials. This result will reduce the cost of products.
