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Controversy in the government over the reduction of excise duty on petrol and diesel, talks between the Finance and Petroleum Ministries continue

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Preparation: Controversy in the government over reduction of excise duty on petrol and diesel, talks between the Finance and Petroleum Ministries continue

The central government is preparing to reduce inflation by reducing excise duty on petrol and diesel. Along with petrochemicals, the government is struggling at a high level to control the prices of LPG. There have been two rounds of talks between the Finance Ministry and the Petroleum Ministry on reducing the excise duty on petrol and diesel in particular. However, the government also wants to measure the international market conditions before taking a final decision.
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According to government sources, the exercise is aimed at reducing inflation due to rising prices of petrol and diesel. Under this, the first formula is to reduce the excise duty imposed on it by the Center and appeal to the states for cooperation. While the second formula is to wait. There has been no rise in crude oil prices in the last four-five days. Because of this their prices are stable.
two rounds of talks completed
In the two rounds of talks held so far, efforts are being made to decide how much excise duty should be reduced. The government had reduced excise duty on petrol by Rs 5 per liter and on diesel by Rs 10 per liter in November last year, when crude oil prices in the international market had risen. At present, the government levies excise duty of Rs 27.90 per liter on petrol and Rs 21.80 per liter on diesel.
Prices are stable for five days
Due to the government’s exercise, there has been no increase in the prices of petrol and diesel since April 6. However, from March 22 to April 6, petrol prices have increased by an average of Rs 5 and diesel by an average of Rs 10. Sources said that another meeting will be held to reduce the excise duty, after which a final decision will be taken.
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Along with petrol and diesel, the prices of LPG are also increasing. The government plans to keep the price of LPG for domestic consumption stable, while the government is in no mood to give relief in the case of LPG for commercial use.

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Controversy in the government over the reduction of excise duty

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