“On Wednesday, the Finance Ministry announced a Rs 5 per litre cut in excise duty on petrol and a Rs 10 per litre cut in excise duty on diesel. The finance ministry stated that crude oil prices have witnessed a global upsurge in recent months. As a consequence, domestic prices of petrol and diesel had increased in recent weeks and these factors were exerting inflationary pressure. But nevertheless, the govt reduced the excise duty on Petrol and diesel. and that the excise duty reduction in Diesel will help the farmers. It is shown as a Diwali gift from the Modi govt to the masses. It is being celebrated as such from the cabinet minister’s to BJP supporters, they are all hailing the decision of the government. And I agree, the reduction in excise duty surely brings some relief to the common man. But is this excise duty reduction on fuel as big as it is being projected? let us discuss it threadbear in today’s video.
#Petrol #Diesel #VAT #FuelTax #Inflation #ExciseDuty #PMModi #BJP #UPA2 #BypollResults2021
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