The Government of India has reduced the prices of Petrol and Diesel across the country a day before Diwali. This comes a Diwali gift to the citizens of the country as fuel prices have crossed Rs. 100 in almost all the states in the country.
The Government of India has announced a reduction in central excise duty on diesel and petrol on the eve of this Diwali. The Ministry of Finance said the excise duty on petrol will be reduced by Rs. 5 and the excise duty on diesel will be reduced by Rs. 10 from Thursday, and the prices of petrol and diesel will come down accordingly. This came in a notification on Wednesday evening.
The Central Government also requested the states to reduce the value added taxes levied by the states on fuel to further reduce the prices. Following this step, the state of Assam immediately declared a reduction of Rs. 7 per liter of both petrol and diesel. This brings down the price of petrol by Rs. 12 and diesel by Rs. 17 in the state of Assam.
Other states to follow the same steps include Uttar Pradesh, Himachal Pradesh, Tripura ,Manipur, Karnataka, Goa, Gujarat and Uttarakhand. This reduction is aimed to boast the industries and farming sector post the lockdowns.
