Centre Cuts Central Excise Duty on Petrol and Diesel by Rs 5 And Rs 10; New Fuel Rates To Come Into Effect From Tomorrow

In a bid to provide relief to consumers from soaring petrol and diesel prices, Government of India on Wednesday announced reduction in central excise duty on fuel. The government has reduced duty on petrol and diesel by Rs 5 and Rs 10 respectively. The Finance Ministry hailed the Centre's decision and also urged the state governments and Union Territories to further reduce VAT on petrol and diesel which will result in further relaxation of fuel rates.

Govt of India has taken a significant decision of reducing central excise duty on petrol & diesel by Rs 5 & Rs 10 respectively from tomorrow... States are also urged to commensurately reduce VAT on petrol & diesel to give relief to consumers: Finance Ministry pic.twitter.com/eIFSk3W8y1

— ANI (@ANI) November 3, 2021

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