(MENAFN- Trend News Agency)
As Finance Minister Nirmala Sitharaman announced a sizeable cut
in fuel prices, Indian Prime Minister Narendra Modi said on
Saturday that people are the first priority for his government,
Trend reports citing
The
Tribune .
The government on Saturday cut excise duty on petrol by a record
Rs 8 per litre and that on diesel by Rs 6 per litre to give relief
to consumers from high fuel prices that have also pushed inflation
to a multi-year high.
Modi tweeted,“It is always people first for us! Today's
decisions, especially the one relating to a significant drop in
petrol and diesel prices will positively impact various sectors,
provide relief to our citizens and further 'Ease of Living'.” The
decision to give Rs 200 subsidy per cylinder to beneficiaries of
the Ujjwala scheme was also highlighted by the prime minister.
“Ujjwala Yojana has helped crores of Indians, especially women.
Today's decision on Ujjwala subsidy will greatly ease family
budgets,” he said.
The excise duty cut will translate into a reduction of Rs 9.5 a
litre on petrol and Rs 7 a litre in diesel after taking into
account its impact on other levies.
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