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Fuel rates: This state announces tax cut on petrol, diesel following Centre's footsteps

The Union government on Saturday cut excise duty on petrol by a record  ₹8 per litre and that on diesel by  ₹6 per litre to give relief to consumers battering under high fuel prices that has also pushed inflation to a multi-year high (AFP)Premium
The Union government on Saturday cut excise duty on petrol by a record 8 per litre and that on diesel by 6 per litre to give relief to consumers battering under high fuel prices that has also pushed inflation to a multi-year high (AFP)

  • Kerala government announced a cut in state taxes on the prices of petrol and diesel by 2.41 and 1.36 per litre respectively.

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Following Centre's decision to cut excise duty on fuel rates earlier on Saturday, the Kerala government announced a cut in state taxes on the prices of petrol and diesel by 2.41 and 1.36 per litre respectively. 

Finance Minister K N Balagopal said, The Union government has partially reduced the huge tax on petrol and diesel. Kerala government welcomes this decision."

"...state government will reduce state tax on the price of petrol and diesel by 2.41 and 1.36 per litre respectively," he said.

How much will petrol and diesel cost now?

Buckling under pressure, the government on Saturday cut excise duty on petrol by a record 8 per litre and that on diesel by 6 per litre to give relief to consumers battering under high fuel prices that have also pushed inflation to a record high.

The excise duty cut will translate into a reduction of 9.5 a litre on petrol and 7 a litre in diesel after taking into account its impact on other levies.

Along with the cut on excise duty on fuel rates, the Centre also announced to provide a subsidy on gas cylinders.

Drop in fuel prices to provide relief to citizens: PM Modi

Prime Minister Narendra Modi on Saturday said that the Centre's decisions, especially the one relating to a significant drop in petrol and diesel prices, will positively impact various sectors, provide relief to citizens and further 'Ease of Living.' 

"It is always people first for us! Today's decisions, especially the one relating to a significant drop in petrol and diesel prices will positively impact various sectors, provide relief to our citizens and further 'Ease of Living', PM Modi said in a tweet.

"Ujjwala Yojana has helped crores of Indians, especially women. Today's decision on Ujjwala subsidy will greatly ease family budgets," he added.

(With inputs from agencies)

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