PremiumToday’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: PM Modi
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The Finance Minister Nirmala Sitharaman on Saturday made several announcements regarding reduction in prices of petrol, diesel and LPG to ‘help the poor and middle class’.
“Our government, since when @PMOIndia @narendramodi took office, is devoted to the welfare of the poor. We’ve taken a number of steps to help the poor and middle class. As a result, the average inflation during our tenure has remained lower than during previous governments," the FM said at the beginning of her announcements.
Quoting FM Nirmala Sitharaman's announcements on Petrol, Diesel price cut, subsidy in LPG cylinder under the Pradhan Mantri Ujjwala Yojana, Prime Minister Narendra Modi took to Twitter to announce that for the BJP government “It is always people first for us!".
PM Modi applauded the measures and only mentioned how these will benefit the middle class and the poor in the country.
See PM Modi's tweet here
The PM assured that the reduction in prices announced will impact various sectors and provide relief to the citizens of India. Emphasizing on ‘ease of living’ he said that these measures would result in furthering the ease of living for the citizens.
“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," announced FM Sitharaman on Saturday.
Sitharaman further said, “Also, this year, we will give a subsidy of ₹ 200 per gas cylinder (upto 12 cylinders) to over 9 crore beneficiaries of Pradhan Mantri Ujjwala Yojana. This will help our mothers and sisters. This will have a revenue implication of around ₹ 6100 crore a year."
Not just LPG, petrol and diesel prices, the Indian government has also announced reduction in the customs duty on raw materials and intermediaries for plastic products where our import dependence is high. This will result in reduction of cost of final products.