New Delhi: The Centre on Saturday 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. This was informed by Union Finance Minister Nirmala Sitharaman.
Finance Minister Nirmala Sitharaman said, “It [Excise duty cut] will have revenue implication of around Rs one lakh crore/year for the government.”