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    HomeBusinessGovt cuts excise duty on petrol by ₹8, diesel by ₹6

    Govt cuts excise duty on petrol by ₹8, diesel by ₹6

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    PTI | New Delhi, May 21 | Updated on: May 21, 2022

    Also, the government will give ₹200 per cylinder subsidy to Ujjwala Yojana beneficiaries for 12 cylinders in a year

    Bowing to public pressure, Finance Minister Nirmala Sitharaman on Saturday announced a ₹8 per litre cut in excise duty on petrol and ₹6 a litre on diesel to avoid increase in fuel prices that were necessitated due to surge in international oil prices.

    The government has reduced taxes on petrol and diesel against the backdrop of inflation, the Finance Minister Nirmala Sitharaman said.

    7/12 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.

    It will have revenue implication of around ₹ 1 lakh crore/year for the government.

    — Nirmala Sitharaman (@nsitharaman) May 21, 2022

    Subsidy for gas cylinder

    Also, the government will give ₹200 per cylinder subsidy to Ujjwala Yojana beneficiaries for 12 cylinders in a year to help ease some of the burden arising from cooking gas rates rising to record levels.

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    Published on May 21, 2022

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