Delhi: Union Finance Minister Nirmala Sitharaman Has Reduced The Excise Duty On Petrol And Diesel. The measures include a reduction of central excise duty of ₹8 per liter on petrol and ₹6 per liter on diesel.
Union Finance Minister Nirmala Sitharaman on Saturday announced a series of measures to curb inflation, citing Prime Minister Narendra Modi's commitment to help the poor and the common man. This will reduce petrol prices and diesel, which will cost the government Rs 1 lakh crore a year in revenue, Sitharaman said.
Finally, when the central tax on fuel products was cut in November 2021, they called on all states not to cut state levies, to implement similar cuts and to provide relief to the common man.
"The Prime Minister has specifically asked all sections of the government to be sensitive and to provide relief to the common man," Union Finance Minister Sitharaman said in a series of tweets.
More than 9 crore beneficiaries of PM UJJWALA Yojana will be given a subsidy of Rs 200 per gas cylinder up to 12 cylinders per annum. She said it would help our mothers and sisters and generate revenue of Rs 6,100 crore every year.
To control steel prices, the government reduces import duties on certain raw materials and imposes export duties on certain steel products. Measures are being taken to improve cement supply and improve logistics to reduce cement costs. The Finance Minister said the Center would issue all notifications of these measures within the next hour.
The series of measures comes in the wake of the rise in retail inflation to 7.8% in April, the highest level since the NDA government came to power in May 2014.
"Our government has been dedicated to the welfare of the poor since Prime Minister Narendra Modi came to power. We have taken a number of steps to help the poor and middle class. As a result, the average inflation during our tenure has continued to be lower than previous governments," the minister said.
"Today, the world is going through difficult times. As the world recovers from the Kovid-19 pandemic, the conflict in Ukraine has led to supply chain problems and shortages of various commodities, leading to inflation and the economic crisis," he said.It is always people first for us!
— Narendra Modi (@narendramodi) May 21, 2022
Today’s decisions, especially the one relating to a significant drop in petrol and diesel prices will positively impact various sectors, provide relief to our citizens and further ‘Ease of Living.’ https://t.co/n0y5kiiJOh
"Despite the challenging international situation, we have ensured that there is no shortage / shortage of essential commodities. Even some developed countries have not been able to escape certain shortages and obstacles. We are committed to ensuring that the prices of essential commodities are kept under control," Ms Sitharaman asserted.
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