Centre's Excise Duty Cut: A Fuel Relief Masterstroke
Maharashtra Deputy Chief Minister Eknath Shinde praised the central government's decision to reduce the special additional excise duty on petrol, calling it a masterstroke that provides relief to citizens. The reduction helps keep inflation in check and supports oil marketing companies amid rising global crude prices.
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Maharashtra Deputy Chief Minister Eknath Shinde has hailed the central government's move to lower the special additional excise duty on petrol as a 'masterstroke.' This decision aims to offer relief to the citizens, countering the Opposition's fears of rising fuel costs.
Shinde commended the Modi government's strategy, asserting that this reduction will help keep inflation in control. The Union government cut the excise duty on petrol to Rs 3 per litre and fully exempted diesel as part of the initiative.
The Union Finance Ministry's March 26 notification reflects efforts to support oil marketing companies like HPCL, BPCL, and IOC amid escalating global crude prices, especially given the current geopolitical tensions in West Asia.
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