India Economy / Government Cuts Excise Duty on Petrol and Diesel
·5 days ago·2 min read
Key Points
According to a government order, the additional excise duty on petrol was cut to Rs 3 per litre from Rs 13 per litre earlier. Meanwhile, the excise duty on diesel was cut to Rs 0 from Rs 10 per litre earlier.
New Delhi, Mar 27: The Indian government on Friday announced a reduction in the additional excise duty on both petrol and diesel, a move aimed at easing public concerns over rising fuel prices across the country.
According to a government order, the additional excise duty on petrol was cut to Rs 3 per litre from Rs 13 per litre earlier. Meanwhile, the excise duty on diesel was cut to Rs 0 from Rs 10 per litre earlier.
The decision comes at a time when global crude oil prices have been volatile, exerting pressure on domestic fuel costs and raising inflationary worries.
Petrol and diesel prices have been a major concern for households and businesses alike, with transporters and farmers particularly affected by the rising costs. The reduction in duty is likely to lower retail prices, though the exact impact will vary across states depending on local taxes.
Industry experts welcomed the move, stating that it would help curb inflationary pressures and boost consumer confidence. However, they also cautioned that sustained relief would depend on global oil trends and further policy measures.
Also Read: PM Modi to interact with Chief Ministers on West Asia crisis today
The government has reiterated its commitment to monitoring fuel prices closely and taking necessary steps to protect the interests of the common people.
With this latest intervention, the Centre hopes to ease the burden on households and ensure economic stability in the face of global uncertainties.
According to a government order, the additional excise duty on petrol was cut to Rs 3 per litre from Rs 13 per litre earlier. Meanwhile, the excise duty on diesel was cut to Rs 0 from Rs 10 per litre earlier.
The decision comes at a time when global crude oil prices have been volatile, exerting pressure on domestic fuel costs and raising inflationary worries.
Petrol and diesel prices have been a major concern for households and businesses alike, with transporters and farmers particularly affected by the rising costs. The reduction in duty is likely to lower retail prices, though the exact impact will vary across states depending on local taxes.
Industry experts welcomed the move, stating that it would help curb inflationary pressures and boost consumer confidence. However, they also cautioned that sustained relief would depend on global oil trends and further policy measures.
Also Read: PM Modi to interact with Chief Ministers on West Asia crisis today
The government has reiterated its commitment to monitoring fuel prices closely and taking necessary steps to protect the interests of the common people.
With this latest intervention, the Centre hopes to ease the burden on households and ensure economic stability in the face of global uncertainties.
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