Centre reduces excise duty on petrol by Rs 8 and on diesel by Rs 6/litre

The move will have revenue implication of around Rs 1 trn for the govt, says FM Sitharaman; also, the govt will give Rs 200/cylinder subsidy to Ujjwala Yojana beneficiaries for 12 cylinders in a year

Finance Minister Nirmala Sitharaman on Saturday said Centre has decided to reduce excise duty on petrol by Rs 8 per litre and on diesel by Rs 6 per litre to avoid increase in fuel prices that were necessitated due to surge in international oil prices. The move will have revenue implication of around Rs 1 trillion for the government, she said.

"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