Shillong, May 21: The Centre on Saturday finally slashed excise duty on petrol and diesel by Rs 8 and Rs 6 per litre, respectively. This will reduce the price of petrol by Rs 9.5 per litre and of diesel by Rs 7 per litre.

Prime Minister Narendra Modi said the announcements will bring relief to citizens and “further ease of living”.

“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’,” PM Modi said through his Twitter handle.

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.’ https://t.co/n0y5kiiJOh

— Narendra Modi (@narendramodi) May 21, 2022

Finance Minister Nirmala Sitharaman made the announcement through a series of tweets, where she mentioned that the Narendra Modi-led government was committed to the welfare of the poor since it assumed office.

“We are reducing the central excise duty on petrol by Rs. 8 per litre and on diesel by Rs. 6 per litre. This will reduce the price of petrol by Rs. 9.5 per litre and of diesel by Rs. 7 per litre,” she said, adding that this will have a revenue implication of close to Rs 1 lakh crore per year for the central government.

7/12 We are reducing the Central excise duty on Petrol by ₹ 8 per litre and on Diesel by ₹ 6 per litre.
This will reduce the price of petrol by ₹ 9.5 per litre and of Diesel by ₹ 7 per litre.

It will have revenue implication of around ₹ 1 lakh crore/year for the government.

— Nirmala Sitharaman (@nsitharaman) May 21, 2022