Hours after the Centre announced a major cut in the excise duty of fuel to curb sky-rocketing inflation, the prices of petrol and diesel dropped sharply by Rs 9.5 and Rs 7 respectively in Odisha market.
The Union government on Saturday announced to reduce the central excise duty on petrol by Rs 8 per litre and on diesel by Rs 6 per litre.
As per the rate revision, petrol is now available at Rs 103.36 and diesel is being sold at 94.86 per litre in Bhubaneswar. Similarly, petrol and diesel are available at Rs 108.73 and Rs 100.12 per litre in Malkangiri. In Rourkela petrol is being sold at Rs 104.29 and diesel is available at Rs 95.83.
Meanwhile, Union finance minister Nirmala Sitharaman on Saturday announced that the government would provide a subsidy of Rs 200 per LPG cylinder to over nine crore beneficiaries of the Pradhan Mantri Ujjwala Yojana. The subsidy will be provided for a maximum of 12 cylinders per year.
As Sitharaman announced a sizeable cut in fuel prices, Prime Minister Narendra Modi said that people are the first priority for his government.
“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’,” he tweeted.