As Finance Minister Nirmala Sitharaman announced a sizeable cut in fuel prices, Prime Minister Narendra Modi said on Saturday that people are the first priority for his government.
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 a 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.