India
oi-Deepika S
New Delhi, May 21: In a big relief, the central government on Saturday reduced excise duty on Petrol by Rs 8 per litre and on Diesel by Rs 6 per litre.
“We are reducing the Central excise duty on Petrol by Rs 8 per litre and on Diesel by Rs 6 per litre. This will reduce the price of petrol by Rs 9.5 per litre and of Diesel by Rs 7 per litre,” said Union Finance Minister Nirmala Sitharaman.
“We are also reducing the customs duty on raw materials & intermediaries for plastic products where our import dependence is high. Import duty on some raw materials of steel will be reduced. Export duty on some steel products will be levied,” she said.
“Also, this year, we will give a subsidy of Rs 200 per gas cylinder (upto 12 cylinders) to over 9 crore beneficiaries of Pradhan Mantri Ujjwala Yojana,” the finance minister announced.
“Measures are being taken up to improve the availability of Cement and through better logistics to reduce the cost of cement,” she said.