Fuel price reduction: Tax rates have dropped by 8 liters for petrol, and by 6 liters for diesel. This will reduce the price of petrol by 9.5 liters and diesel by 7 liters.
New Delhi: The fuel price reduction, petrol fall by Rs 9.5, and diesel will cost Rs 7 as Finance Minister Nirmala Sitharaman announces a sharp reduction in the average fuel price during inflation.
Gasoline prices have dropped by R8 a liter and diesel prices by R6 6 a liter, Ms. Sitharaman said. The government says it will lose ₹ 1 lakh crore by reducing the middle tax rate.
The Minister urged governments to use the same approach and transfer benefits to the ordinary people.
Nirmala Sitharaman urged the provinces to use the same approach and transfer benefits to the common person.
New Delhi: The fuel price reduction ,price of petrol will fall by Rs 9.5, and diesel will cost Rs 7 as Finance Minister Nirmala Sitharaman announces a sharp drop in petrol prices during inflation.
The price of petrol fell by R8 a liter and diesel by R6 6 a liter, said Sitharaman. The government says it will lose ₹ 1 lakh crore by reducing the average tax rate.
The Minister urged governments to use the same approach and transfer benefits to the ordinary people.
The fuel price reduction, price of petrol in Delhi from Sunday will be R95.91 a liter compared to R105.41 a liter at present, and diesel will cost R89.67 a liter compared to R96.67 a liter now.
Following the recent tax cuts, average petrol taxes will drop to R19.9 and diesel to R15.8 a liter.
Also, the government will provide ₹ 200 subsidies per cylinder to the beneficiaries of Ujjwala Yojana for 12 cylinders a year to help alleviate some of the burdens that result from cooking gas prices rising to record levels.
“This will help my mothers and sisters,” Ms. Sitharaman tweeted.
The Minister of Finance said the subsidy for the gas cylinder would have a “cash benefit of approximately ₹ 6,100 crores.”
Defending the government amid rising prices, the minister said steps had been taken to avoid the poor.
“We have taken many steps to help the poor and middle class. As a result, the rate of inflation during the administration has been lower than in the previous administration,” he said.
Shortly after the announcement of the cuts, Prime Minister Narendra Modi emphasized that “it is always the people who are first and foremost” and that it would improve “life easily”.
A similar fuel price reduction in mid-term jobs occurred in November last year, recalls Oil Minister Hardeep Puri.
“This decision follows a tax evasion between Nov ’21 ka 5 Ku 5 on Petrol & ₹ 10 on Diesel. It reaffirms Prime Minister Modi Ji’s unwavering commitment to citizens’ concerns and reflects the Prime Minister’s troubled leadership, despite certain states’ refusal to lower prices and dramatic provisions. ”On Twitter Oil Minister Hardeep Puri.
Currently, petrol is sold in more than ₹ 100 places in most parts of the country. Rates vary across regions due to value-added tax (VAT).
India relies heavily on imports to meet its oil needs and domestic oil and diesel prices are linked to world standards.
April has seen the prices of Indian supermarkets and consumers in India accelerate over the years, prompting the central bank to raise interest rates at an unplanned policy meeting this month.
For more information about fuel price reduction
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