New Delhi, News24 Bureau, Oct 5: Finally after many days this comes as a major relief for the common man who has been reeling under the pressure of price rise in all day-to-day things around him.
Now petrol prices have been slashed by 2.50 and in all BJP ruled states the fuel prices are cheaper by Rs 5. It is expected that other states will also tow the line and prices would be slashed further in non-BJP-ruled states as well.
Finally, a big announcement has come from the Finance Minister of India Arun Jaitley. The government had assured on Thursday that there will be a cut in petrol, diesel prices by Rs 2.50 and if the states match this cut, which the center has asked the states to do, then the Aam Aadmi will get a relief of Rs 5 on fuel prices. This comes to a major relief.
All eyes were on FM Arun Jaitley as the common man has been reeling under the burden of price rise. FM has addressed the nation at an opportune time. Fuel prices rising, gold prices getting out of control, Rupee falling; it is a real panicky situation. "Several macroeconomic data is indicating stable measures. The first quarterly results have shown an 8.2% growth. Inflation is still moderate less than 4%, said Finance Minister Arun Jaitley.
A much-needed and much-awaited relief to consumers as the government today announced a reduction in excise duty on fuel.
Excise duty to be reduced by Rs.1.50 and oil marketing companies will absorb 1 rupee. So, a total of Rs 2.50 will be reduced on both diesel and petrol, the Finance Minister Arun Jaitley, announced today. The finance minister has also urged the state governments to reduce VAT or value added tax on petrol and diesel, to bring further relief to customers. Here is the list of the new petrol rates in major cities:
Here is the list of Diesel prices in major cities: