We are reducing the Central excise duty on Petrol by Rs 8 per litre and on Diesel by Rs 6 per litre. This will reduce the price of petrol by Rs 9.5 per litre and of Diesel by Rs 7 per litre: Union Finance Minister Nirmala Sitharaman.
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Petrol and diesel prices determine the inflation as it has a effect on number of aspects to include transportation, fruits and vegetables cost.
Let us hope that states also give some respite in state excise which will make sure that the evil of inflation is taken care off with a combined effort.
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Other FM Announcements
We are also reducing the customs duty on raw materials & intermediaries for plastic products where our import dependence is high. This will result in reduction of cost of final products.
Similarly we are calibrating customs duty on raw materials & intermediaries for iron & steel to reduce their prices.
Import duty on some raw materials of steel will be reduced.
Export duty on some steel products will be levied.
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