Petrol-Diesel Prices Centre announces reducing excise duty on petrol by Rs. 8 per litre, diesel by Rs. 6
New Delhi: The Centre on Saturday announced its decision to slash central excise duty on petrol by Rs. 8 per litre and on diesel by Rs. 6 per litre.
Announcing her decision, Union Finance Minister Nirmala Sitharamanm tweeted: "We are reducing the Central excise duty on Petrol by ₹ 8 per litre and on Diesel by ₹ 6 per litre."
"This will reduce the price of petrol by ₹ 9.5 per litre and of Diesel by ₹ 7 per litre," she said.
"It will have revenue implication of around ₹ 1 lakh crore/year for the government," the Minister said.
7/12 We are reducing the Central excise duty on Petrol by ₹ 8 per litre and on Diesel by ₹ 6 per litre.
— Nirmala Sitharaman (@nsitharaman) May 21, 2022
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/year for the government.
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