AFTER THE SQUEEZE, THE RELEASE

Responding to public sentiment inflationary over pressure, which is well beyond the comfort level of the RBI, the government has decided to cool down the tax component in petrol and diesel.

Taming Inflation

RECORD excise duty cut on petrol by Rs 8 per litre; duty cut on diesel Rs 6 per litre

IN EFFECT duty cut will translate into a reduction of Rs 9.5 a litre in petrol and Rs 7 a litre in diesel

LPG SUBSIDY of Rs 200 per cylinder to Ujjwala Scheme recipients

CUSTOMS DUTY waived on some raw materials used by steel industry

EXPORT DUTY on iron ore hiked up to 50 per cent, and on a few steel intermediaries up to 15 per cent CEMENT availability to improve

 It has accordingly reduced the excise duty on fuel, which will lead to a welcome drop in prices of petrol and diesel.