The Centre announced a reduction in the excise duty payable on gasoline and diesel on the eve of Diwali.
While petrol excise tax has been reduced by Rs 5, diesel excise duty has been reduced by Rs 10. On November 4th, the new rates will take effect.
The drop in excise duty on diesel is greater, according to a statement made by the Ministry of Finance, due to its broad use in agriculture.
“Diesel will have an excise duty reduction that is twice that of gasoline. Despite the shutdown, Indian farmers have maintained economic growth momentum, and the large reduction in gasoline excise will benefit farmers during the upcoming Rabi season,” it was noted.
For every rupee reduced in excise duty on fuel or diesel, the exchequer loses roughly Rs 14,000 crore. As a result, the government will lose roughly Rs 2.10 lakh crore in revenue due to a drop in excise duty of Rs 5 on gasoline and Rs 10 on diesel.
Here are some memes that you all have come to see:
Increase it by 35 & decrease just 5… Fool them as usual…#PetrolDieselPrice pic.twitter.com/JtRtAYNbpQ
— Spirit of Congress✋ (@SpiritOfCongres) November 3, 2021
After increasing price of petrol by Rs 45 and now giving relief of 5 Rs.
Me to Govt pic.twitter.com/TpXKi2Hzo9
— Baandya (@Bahut_Scope_Hai) November 3, 2021
Upcoming Elections or Side effects of Election Results! 😜
#PetrolDieselPrice pic.twitter.com/P8zmANYuFv— Gussail Chacha (@Gussail_Chacha) November 3, 2021
#PetrolDieselPrice
After by-election results meanwhile public to Government pic.twitter.com/4w7Zsse8kB— लपेटू इज बैक (@La___petu) November 3, 2021
Major thanks to Himachal Pradesh voters🙌
Public of Himachal Pradesh right now🤣#PetrolDieselPrice pic.twitter.com/dJaHXBdT9K
— VK || SRKTIAN (@SRK_SRT) November 3, 2021
Tweet for all BJP supporters! 😁😂#PetrolDieselPrice pic.twitter.com/r5x7ikaUlv
— 𝐃𝐞𝐞𝐩𝐚𝐤 𝐤𝐡𝐚𝐭𝐫𝐢 (@Deepakkhatri812) November 3, 2021
