Excise duty cut will translate into a reduction of Rs 9.5 a litre on petrol and Rs 7 a litre in diesel

National

Inflation cut: Petrol to cement price, check top reduction here

25 states and UTs had cut VAT to give further reprieve to consumers battered by record-high retail prices. However, states ruled by non-NDA parties like Maharashtra, Andhra Pradesh and Tamil Nadu had not reduced VAT.

Online Desk

Updated:21st May, 2022 at 7:56 PM

CHENNAI: Finance Minister Nirmala Sitharaman on Saturday made top announcements on petrol to cement prices, which will help the public to cope up amid rising inflation. The government has taken measures to reduce taxes on petrol and diesel.

List of statement made for the public:

Excise duty cut by ₹ 8 per litre on petrol, by ₹ 6 per litre on diesel. This will reduce the price of petrol by ₹ 9.5 per litre and of Diesel by ₹ 7 per litre.

A subsidy of Rs 200 per cylinder to Ujjwala Yojana beneficiaries for 12 cylinders in a year.

Import duty on some raw materials of steel will be reduced. Export duty on some steel products will be levied.

Improve the availability of Cement and through better logistics to reduce the cost of cement.

Fertiliser subsidy of Rs 1.05 lakh crore announced in the budget, an additional amount of Rs 1.10 lakh crore is being provided to help the farmers.

Inflation cut: Petrol to cement price, check top reduction here

25 states and UTs had cut VAT to give further reprieve to consumers battered by record-high retail prices. However, states ruled by non-NDA parties like Maharashtra, Andhra Pradesh and Tamil Nadu had not reduced VAT.

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