Udayavni Special

Petrol, diesel prices cut by Rs 2.50 after excise reduction


Team Udayavani, Oct 4, 2018, 3:59 PM IST

New Delhi:  The government Thursday announced a Rs 2.50 a litre cut in petrol and diesel prices, factoring in excise duty reduction of Rs 1.50 per litre and asking oil companies to absorb another Re 1

Finance Minister Arun Jaitley said the excise duty cut would have an impact of Rs 10,500 crore on central government’s tax revenues

He also asked state governments to follow suit by cutting a sales tax or VAT by a similar amount. The reduction followed petrol and diesel prices touching new highs

In Delhi, where the fuel prices are the lowest among all metros and most state capital, petrol is sold at Rs 84 per litre and diesel at Rs 75.45

Jaitley said the move followed Brent crude oil touching four-year high of USD 86 a barrel Wednesday and interest rates in US reaching seven-year high

Inflation in India, however, is still moderate at less than 4 pe cent and higher direct tax collections give comfort with regard to fiscal deficit, he said adding domestic macroeconomic indicators are strong and stable, except for current account deficit (CAD).

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

How long does protection from COVID-19 vaccines last?

Taking care of environment should be part of our daily lives: Dalai Lama

SC wants national plan on COVID-19 situation including on oxygen supply

Earth Day 2021: Google Doodle video encourages people to plant seeds

Vaccine policy discriminatory: Sonia Gandhi to PM

Was a production boy when I first met Aishwarya: Abhishek Bachchan

‘Dare me to repeat this feat anywhere in K’taka’: Dr Kamath after donating ECG machines at 2 PHCs in Amasebailu village




Related Articles More

Agri-tech firm introduces traceability feature ”Know Your Farmer”

Debt restructuring plan of Future Retail, Future Enterprises gets approval from Kamath panel

Sales of EVs in India fell 20% in FY’21 to 2,36,802 units, reports SMEV

Sensex tumbles over 500 pts in early trade; Nifty slips below 14,200

Tata Group to import 24 cryogenic containers to transport liquid oxygen amid spike in COVID cases

MUST WATCH

Garbage lorry crashes into poultry shop; damages parked vehicle

COVID-19: BSY discharged from Manipal hospital

DK DC announces new rules for marriages during wknd curfew; less than 50 guests, passes necessary

Udayavani 21-April-2021 News Bulletin

Jayalaxmi Silks Udyavara | Kanchipuram Sarees​ | Glorious Bridal Sarees Unboxing

Latest Additions

Agri-tech firm introduces traceability feature ”Know Your Farmer”

Mumbai police’s witty reply to man wanting to meet girlfriend earns praise

BSF thwarts infiltration bid by 3 Pak intruders along IB in Punjab’s Pathankot

EC dismisses TMC allegations of firing by central forces

Mangaluru diocese issues curfew-specific guidelines

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.