Good News- Lower gasoline and diesel prices: The central government made an important decision to reduce the central excise tax on gasoline and diesel by Rs 5 and Rs 10 respectively from Thursday. These prices will be applicable from 12 noon. The reduction in excise duties on diesel will be double that on gasoline. Indian farmers have kept pace with economic growth even during the lockdown phase thanks to their hard work. Now the government has decided that farmers should get relief by drastically reducing the excise duty on diesel, so that in the next Rabi season, farmers can get relief when sowing. – crop irrigation.
Good News- The last few months have seen a global rise in crude oil prices. As a result, domestic gasoline and diesel prices have risen under inflationary pressure in recent weeks. The world has also experienced all kinds of energy shortages and inflated prices. The central government has tried to ensure that there is no shortage of energy in the country and that products like gasoline and diesel are available in sufficient quantities to meet our needs.
Driven by India’s entrepreneurial potential, the Indian economy has undergone a remarkable transformation following the Corona-induced recession. All sectors of the economy, whether manufacturing, services or agriculture, experience significant economic activity. To give new impetus to the economy, the Indian government has decided to significantly reduce the excise duties on diesel and gasoline.
Reducing excise duties on gasoline and diesel will boost consumption and keep inflation low, helping the poor and the middle class. Today’s decision is expected to give new impetus to the global economic cycle. In order to relieve consumers, the central government has also urged states to reduce VAT on gasoline and diesel.
Decision to lower prices after the results of the by-elections
Good News- However, political experts believe that by reducing excise taxes on diesel and gasoline prices, the central government has started to prepare the ground for the next elections. In the recently organized by-elections of 30 assemblies and three Lok Sabha, the BJP suffered a major setback, especially in Himachal Pradesh. After that, Chief Minister Jai Ram Thakur said the price of gasoline and diesel was a problem. It was only after that that the central government decided to reduce the excise duties on diesel and gasoline. However, the government calls this a step taken in the interests of farmers.
