On the occasion of Diwali, the government of India announced a reduction of the excise duty on the prices of petrol and diesel all over the nation. With the new reduction, the Petrol price will see a decline of Rs. 5, and the Diesel Price will see a reduction of Rs. 10.
Press Information Bureau has tweeted the same. “Government announces Excise Duty reduction on Petrol and Diesel on the eve of Diwali. Excise duty on Petrol and Diesel to be reduced by Rs. 5 and Rs. 10 respectively from tomorrow. Prices of Petrol and Diesel will come down accordingly,” read a tweet from the official handle of PIB.
The press note also conveyed that the reduction in excise duty on diesel will be double that of petrol and will come as a boost to the farmers during the upcoming Rabi season. “States urged to reduce VAT on Petrol & Diesel to give relief to consumers,” said the press note.
To give a further fillip to the economy, the Government of India has decided to significantly reduce the excise duty on diesel and petrol.
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