Spiraling fuel: Govt cuts excise duty on fuel prices by rs1.50, makes fuel companies cut by 1

The under pressure Narendra Modi government on Thursday reduced petrol and diesel prices by cutting excise duty by Two rupees Fifty paise per litre.The centre has also appealed to all the states to reduce VAT by two rupees fifty paise, so that fuel becomes cheaper by Five rupees per litre.Till date 10 BJP- ruled states have already reduced VAT. Goa’s decision awaited.