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HomeBusinessFuel Prices Cheaper on Diwali After Centre's Excise Duty Cut

Fuel Prices Cheaper on Diwali After Centre’s Excise Duty Cut

A day after the Union Government reduced excise duty on fuel, several States lowered Value Added Tax (VAT) on petrol and diesel to give some respite to consumers.

Facing months of intense pressure over rising fuel prices in the country, the central government on Wednesday cut excise duty on petrol and diesel by record amounts of ₹5 and ₹10, respectively, per litre, to bring down their rates from the highest-ever levels.

Announcing the decision, a government statement said the Centre has also urged states to commensurately reduce the value-added tax (VAT) on petrol and diesel to give relief to consumers.

However, the timing and what followed, indicated it was not just an economic move, but also an orchestrated political counter by the central government, the BJP-ruled states and its allies to reset the perception against them and to cause an upset for the opposition.

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