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Centre reduces excise duty on fuel

New Delhi: The Central government on Saturday announced to reduce excise duty on fuel. The excise duty on petrol will be cut by Rs 8 per litre and on diesel by Rs 6 per litre.

Informing about the government’s decision, Union Finance Minister Nirmala Sitharaman said this will reduce the price of petrol by Rs 9.5 per litre and diesel by Rs 7 per litre.

“It will have a revenue implication of around Rs 1 lakh crore per year for the government,” the FM.

The government also announced a subsidy of Rs 200 per cooking gas cylinder up to 12 cylinders, to over 9 crore beneficiaries of the Pradhan Mantri Ujjwala Yojana..

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