Facing months of intense pressure over rising fuel prices in the country, the central government on Wednesday cut excise duty on petrol and diesel by record amounts of ₹5 and ₹10, respectively, per litre, to bring down their rates from the highest-ever levels.
Announcing the decision, a government statement said the Centre has also urged states to commensurately (in an equivalent measure) reduce the value-added tax (VAT) on petrol and diesel to give relief to consumers.
Subsequently, multiple BJP-ruled states heeded the central government’s advice to bring down the petrol and diesel prices. For instance: Assam, Goa, Manipur, Haryana, Uttar Pradesh, Uttarakhand, etc. The decision has come into effect from Thursday, bringing a much needed relief for people across India.
However, after this cheer, some experts believe that this cut in fuel prices may not last long. Politically, most of these states are going for elections next year and hence, the decision could be taken at this moment. Well, whatever is the reason behind the cut, for now, it has cheered up people in this festive season.
