The petrol prices will be reduced by Rs 9.5 per litre while diesel will cost Rs 7 cheaper as the Centre on Saturday announced a series of measures to help the common man.
Finance minister Nirmala Sitharaman tweeted that the Centre has decided to extend relief to the poor and common man amid growing inflation in the country.
“We are reducing the Central excise duty on Petrol by Rs 8 per litre and on Diesel by Rs 6 per litre. This will reduce the price of petrol by Rs 9.5 per litre and of Diesel by Rs 7 per litre,” she said.
The minister said the move will have revenue implication of around Rs 1 lakh crore/year for the government.
Additionally, Sitharaman said the Centre will give a subsidy of Rs 200 per gas cylinder (up to 12 cylinders) to over 9 crore beneficiaries of the Pradhan Mantri Ujjwala Yojana.
“This will help our mothers and sisters. This will have a revenue implication of around Rs 6100 crore a year,” she said.