: Petrol price to reduce by Rs 9.5 per litre, Diesel by 7 #IndiaNEWS #India New Delhi: Bowing to public pressure, Finance Minister Nirmala Sitharaman on Saturday announced a Rs 8 per litre cut in excise

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Petrol price to reduce by Rs 9.5 per litre, Diesel by 7 #IndiaNEWS #India
New Delhi: Bowing to public pressure, Finance Minister Nirmala Sitharaman on Saturday announced a Rs 8 per litre cut in excise duty on petrol and Rs 6 a litre on diesel to avoid increase in fuel prices that were necessitated due to surge in international oil prices.

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

Also, the 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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