excise duty on petrol and diesel: Center cuts excise duty on fuel; Will state governments reduce VAT now?

New Delhi: The central government has tried to relieve the common man from inflation (excise duty on petrol and diesel) on Diwali. The central government has reduced excise duty on petrol by Rs 5 and excise duty on diesel by Rs 10. This will make petrol and diesel cheaper from tomorrow morning. The central government is currently levying excise duty of Rs 32.90 per liter on petrol and Rs 31.80 per liter on diesel. After the central government’s decision, excise duty on petrol will be reduced to Rs 27.90 and excise duty on diesel to Rs 21.80.

Will state governments reduce VAT now?

The Center has now appealed to the states to reduce excise duty on petrol and diesel. The Center has appealed to the states to reduce VAT on petrol and diesel, which has brought relief to the common man. VAT is levied at 20 to 35 per cent in different states. Farmers are now preparing to sow rabi crops. As a result, the decision to reduce excise duty on petrol and diesel will be taken by the farmers, the central government said. With the central government cutting excise duty, states now need to take concrete steps. This will further reduce petrol and diesel prices and bring relief to the common man, said Union Minister Dharmendra Pradhan.

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The results of the by-elections of 29 assembly constituencies in various states of the country started on Tuesday. In this election, the ruling BJP in Himachal Pradesh, Rajasthan and Karnataka has been hit hard. Rising petrol and diesel prices, inflation and resentment among farmers are said to have hit the BJP hard. Now next year, in the next few months, elections will be held in 5 states including Uttar Pradesh. As a result, the central government has tried to allay the grievances of farmers and the public by reducing excise duty on petrol and diesel.

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Why are petrol and diesel prices going up?

Petrol and diesel prices are also rising in the country due to the rise in international crude oil prices. International demand for crude oil has increased. But crude oil prices have skyrocketed due to insufficient supply of crude oil compared to demand. Its blow is falling on India as well.