Petrol now cheaper by Rs 3 in Noida as compared to Delhi

Petrol now cheaper by Rs 3 in Noida as compared to Delhi

The Centre has chose to cut excise duty on petrol and diesel by Rs 2.50 per litre with immediate effect, Finance Minister Arun Jaitley said on Thursday. "Absrobing this burden of Rs 10,500 crore while maintaining the fiscal deficit target, I am confident will not be a problem with the increased collections", Jaitley said.

The state of Karnataka, who earlier slashed fuel prices by Rs 2, will not be announcing any more cuts.

After the minister's announcement, Jharkhand, Gujarat, Chhattisgarh and Maharashtra too announced a reduction in fuel prices.

This came after Jaitley asked states to further cut prices on their level by Rs 2.50 per litre so that consumers can get a relief amounting to Rs 5 per litre.

Bihar Deputy Chief Minister Sushil Kumar Modi said his government has not received any letter from Jaitley on the matter, ANI reported. This will reduce the overall price by about Rs 5.

He also noted that the oil marketing companies are fully competent to deal with the decision and the government was not going back on fuel price deregulation.

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BJP chief Amit Shah said the decision showed the government's sensitivity towards welfare. Soon, several other NDA-ruled states - Chhatisgarh, Tripura, Jharkhand, Madhya Pradesh, Uttar Pradesh, Haryana, Assam, Uttarakhand, Goa, Himachal Pradesh and Arunachal Pradesh - followed suit.

Finance Minister Arun Jaitley today 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.

The fuel price cut decision is only the latest in India's government efforts to cushion the blow from rising oil prices.

Petrol prices were Thursday hiked by 15 paise a litre and diesel by 20 paise, according to price notification of state-owned oil firms. The prices of petrol are maximum across the state, soaring above Rs 91 in many districts of the state. Congress president Rahul Gandhi was also in the forefront of the attack on Modi, for being silent on the "sky-rocketing" petrol and diesel prices. The centre now levies a total of Rs 19.48 per litre of excise duty on petrol and Rs 15.33 per litre on diesel. Delhi BJP chief Manoj Tiwari has already demanded that chief minister Arvind Kejriwal reduce Value-Added Tax on petrol and diesel. You have increased it.

Aam Aadmi Party (AAP) chief and Delhi Chief Minister Arvind Kejriwal also echoed similar sentiments and said the Modi government is cheating people.

Speaking to the media, Kumaraswamy also said that he appreciates the move by the central government.

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