Insight Bureau: In a major relief to the middle class, the Centre has decided to reduce the central excise duty on Petrol by Rs 8 and on Diesel by Rs 6.
Petrol prices will now become cheaper by Rs 9.50 per litre and Diesel by Rs 7 per litre. It was confirmed by Union Finance Minister Nirmala Sitharaman.
The Government has also decided to give a subsidy of Rs 200 per gas cylinder (upto 12 cylinders) to over 9 crore beneficiaries of Pradhan Mantri Ujjwala Yojana (PMUY).
”We are also reducing the customs duty on raw materials & intermediaries for plastic products where our import dependence is high. Import duty on some raw materials of steel will be reduced. Export duty on some steel products will be levied, said Union Finance Minister Nirmala Sitharaman.