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Bowing to public pressure, Finance Minister Nirmala Sitharaman on Saturday announced a ₹8 per litre cut in excise duty on petrol and ₹6 a litre on diesel to avoid increase in fuel prices that were necessitated due to surge in international oil prices.
The government has reduced taxes on petrol and diesel against the backdrop of inflation, the Finance Minister Nirmala Sitharaman said.
Subsidy for gas cylinder
Also, the government will give ₹200 per cylinder subsidy to Ujjwala Yojana beneficiaries for 12 cylinders in a year to help ease some of the burden arising from cooking gas rates rising to record levels.
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