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Price of petrol will come down by ₹ 9.5, while the diesel will be cheaper by ₹ 7

New Delhi: 21/5/22:The price of petrol will come down by ₹ 9.5, while the diesel will be cheaper by ₹ 7 as Finance Minister Nirmala Sitharaman announced a sharp cut in central excise duty on fuel prices amid surging inflation.

The central excise duty on petrol has been cut by ₹ 8 per litre and the same on diesel has been cut by ₹ 6 per litre, said Ms Sitharaman. The government says it will lose ₹ 1 lakh crore by taking the cut on central excise duties.

The Minister urged states to implement a similar cut and pass on the benefit to the common man.

“I wish to exhort all state governments, especially the states where reduction wasn’t done during the last round (November 2021), to also implement a similar cut and give relief to the common man,” appealed Ms Sitharaman.

Petrol price in Delhi will from Sunday cost ₹ 95.91 a litre as against ₹ 105.41 a litre currently, while diesel will cost ₹ 89.67 a litre as opposed to ₹ 96.67 a litre now.

After the latest excise cut, the incidence of central tax on petrol will come down to ₹ 19.9 a litre and that on diesel to ₹ 15.8 per litre.

Also, the government will give ₹ 200 per cylinder subsidy to Ujjwala Yojana beneficiaries for 12 cylinders in a year to help ease some of the burden arising from cooking gas rates rising to record levels.

“This will help our mothers and sisters,” tweeted Ms Sitharaman.

The Finance Minister said the gas cylinder subsidy will have a “revenue implication of around ₹ 6,100 crore.”

Defending the government amid a steep price rise, the Minister said steps have been taken to cushion the poor.

“We’ve taken a number of steps to help the poor and middle class. As a result, the average inflation during our tenure has remained lower than during previous governments,” she said.

 

About Editor in chief

Ashok Palit has completed his graduation from Upendranath College Soro, Balasore and post graduation from Utkal University in Odia Language and literture.. He has also carved out a niche for himself as a scribe of eminence after joining the profession in 1988. He is also an independent media production professional. He brings loads of experience to Advanced Media, Ashok Palit as a cineaste has been active in film criticism for over three decades. As a film society activist, he soared to eminence for his profound commitment to the art film appreciation and aesthetics of cinema. His mode of discourse is often erudite but always lucid and comprehensible marked by a perfect acumen so rare in the field. A film aesthete with an immense fond of critical sensibilities, he wrote about growth and development of odia cinema in New Indian Express, The Times of India, The Hindustan Times, The Asian Age and Screen. He has been working as an Editor for Cine Samaya from 2002-2004.. He had made solid contribution on cinema in many odia Dailies and weekly such as Samaj, Prajatantra, Dharatri, Samaya, Satabadi, and weekly Samaya.
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