Breaking: States Do Not Suffer Due To Reduction in Excise Duty- Nirmala Sitharaman

Union Finance Minister Nirmala Sitharaman said that Basic Excise Duty (BED), Special Additional Excise Duty (SAED), Road and Infrastructure Cess (RIC) and Agriculture and Infrastructure Development Equipment (AIDC) together wit makes the total excise duty on petrol-diesel. Out of these, only BED is shared with the states, not the rest. The government has made this reduction in RIC, but in November 2021, when it reduced Rs 5 on petrol and Rs 10 on diesel, it also reduced the same item of tax.

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