CENTRAL GOVERNMENT REDUCES EXCISE ON PETROL AND DIESEL ON DIWALI EVE

Prices of petrol and diesel in India which have crossed Rs. 110 and Rs. 100 respectively, in most major cities in the country, have been reduced by the central government. The excise duty on petrol and diesel will be reduced from 12 am on 4th November, Diwali. The price of petrol and diesel will go down by Rs. 5 and Rs. 10 respectively. The precise reduction is aimed at providing relief to those affected by the hike and to farmers for the upcoming rabi season, prices of goods and essentials have skyrocketed which will go down with the reduction. The centre has also urged the state government to reduce the VAT to give relief. 

Though the reduction is comparatively high the prices of petrol and diesel are at an all-time high in the country so the relief for the consumers will only be marginal for customers. The price of both increased by upto Rs. 30 over the course of the last year. The decision to reduce the price is also helpful as it comes at the eve of Diwali in the country when travelling, shopping and spending increases in the country. On Wednesday the price of petrol in Delhi, Mumbai, Trivandrum and other major cities had crossed Rs. 110 and Diesel at more than Rs.100. The government has said the current movie will help skyrocket consumption and keep inflation low. 

Earlier in the day, Congress leader Rahul Gandhi had tweeted slamming the government for the prices. “It’s Diwali. Inflation is at its peak. It’s not a joke. I wish the Modi government had a sensitive heart for the public”, tweeted the leader. 

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