New Delhi: Indian customers get a great relief on Diwali eve, as the Central Government announced a reduction in excise duty on petrol and diesel. The excise duty on petrol will be reduced by Rs 5 and that on diesel by Rs 10 and new rates will come into effect from tomorrow.
Government sources said that the reduction in excise duty on diesel will be double that of petrol, and will come as a boost to the farmers during the upcoming Rabi season. They added that State Governments have been urged to reduce VAT on petrol and diesel to give relief to consumers. The Centre further stated that the move will boost consumption and keep inflation low, thus helping the poor and middle classes.
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‘The Government of India has made efforts to ensure that there is no energy shortage in the country and that commodities such as petrol and diesel are available adequately to meet our requirements. Driven by the enterprising ability of India’s aspirational population, the Indian economy has witnessed a remarkable turnaround post the COVID-19 induced slowdown. All sectors of the economy – be it manufacturing, services or agriculture – are experiencing significant upward economic activity. To give a further fillip to the economy, the Government of India has decided to significantly reduce the excise duty on diesel and petrol’, an official statement released by the Union Ministry read.
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