Government Cuts Excise Duty On Petrol And Diesel, Gives Subsidy To Ujjwala Scheme Beneficiaries

Finance Minister Nirmala Sitharaman announces excise duty cut on petrol, diesel pricesDays after a war of words had erupted between Central government and states in the aftermath of Prime Minister Narendra Modi requesting them to reduce value added tax (VAT) on fuel prices, Finance Minister Nirmala Sitharaman on Saturday announced that government is cutting down excise duty on petrol and diesel by Rs 8 and Rs 6 a litre respectively.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, 2022In a series of tweets, Ms Sitharaman also said that government will give Rs 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.9/12 Also, this year, we will give a subsidy of ₹ 200 per gas cylinder (upto 12 cylinders) to over 9 crore beneficiaries of Pradhan Mantri Ujjwala Yojana. This will help our mothers and sisters. This will have a revenue implication of around ₹ 6100 crore a year. #Ujjwala— Nirmala Sitharaman (@nsitharaman) May 21, 2022



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