Government today reduced the Central excise duty on Petrol by 8 rupees per litre and on Diesel by 6 rupees per litre. This will reduce the price of petrol by 9.5 rupees per litre and of Diesel by 7 rupees per litre. Finance Minister Nirmala Sitharaman announced this in a series of tweets.
The Minister said it will have revenue implication of around 1 lakh crore rupees per year for the government. She exhorted all state governments, especially the states where reduction was not done during the last round in November last year, to also implement a similar cut and give relief to the common man.