Excise cut on petrol, diesel will help various sectors: PM

Excise cut on petrol, diesel will help various sectors: PM

New Delhi: Prime Minister Narendra Modi on Friday said it is always “people first” for the government, and said the decision of reduction in petrol and diesel prices will positively impact various sectors.
“It is always people first for us! 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’,” PM Modi said in a tweet.
On the announcement of a subsidy of Rs. 200 under the Ujjwala scheme, he said, “Ujjwala Yojana has helped crores of Indians, especially women. Today’s decision on Ujjwala subsidy will greatly ease family budgets.”
Finance Minister Nirmala Sitharaman on Saturday announced that the central excise on Petrol will be slashed by Rs. 8 per litre and on Diesel by Rs. 6 per litre.
The Finance Minister said it will reduce the price of petrol by Rs. 9.5 per litre and of Diesel by Rs. 7 per litre.
She said this will have “revenue implication” of around Rs. 1 lakh crore per year for the government.
Sitharaman also announced that the government will give a subsidy of Rs. 200 per gas cylinder, upto 12 cylinders, to over nine crore beneficiaries of 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.
UNI

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