Modi government has reduced excise duty on petrol and diesel, now what will the state governments reduce VAT?

Central Government Diwali Gift: Before Diwali, the Modi government has taken a big decision to get rid of inflation. The Modi government has announced a reduction of Rs 5 in excise duty on petrol and Rs 10 on diesel. After which petrol diesel will become cheaper from tomorrow morning. At present, the central government levies excise duty of Rs 32.90 per liter on petrol and Rs 31.80 per liter on diesel. After this decision of the Modi government, the excise duty on petrol will be reduced to Rs 27.90 and on diesel to Rs 21.80.

Appeal to states to reduce VAT

After the reduction in excise duty, the central government has appealed to the states to reduce VAT on petrol and diesel so that people can get rid of inflation. Different state governments charge VAT ranging from 20 to 35 percent. According to the central government, the reduction of excise duty on diesel will affect the farmers the most because the farmers are going to sow the Rabi crop soon. The biggest benefit of this cut is going to be given to the farmers.

Government admits increased inflation

The central government admitted that inflation has increased due to the increase in the price of petrol and diesel. At the same time, there is also a decrease in fuel supply in the world, due to which the prices of crude oil have increased. The government said that it has ensured that there is no shortage of fuel like petrol diesel in the country and its supply remains uninterrupted. The central government has also said in its statement that the economy is showing improvement and to speed up economic activity, the government has decided to reduce the excise duty on petrol and diesel so that consumption can be increased and inflation can be controlled. So that the middle class and the poor can get relief. According to the central government, the decision to reduce excise duty will benefit the economy.

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