India Slashes Additional Excise Duty on Petrol, Diesel
The Indian government has reduced the additional excise duty on petrol and diesel in response to growing concerns about rising fuel prices.According to a government order dated Thursday, the additional excise duty on petrol was cut to ₹3 per litre from ₹13 per litre previously. Simultaneously, the excise duty on diesel was lowered to ₹0 per litre from ₹10 per litre earlier.
This decision follows reports of rising worries about fuel price hikes nationwide, fueled by the ongoing conflict in the Middle East. A Reuters report indicated that the government took action amid concerns related to the US-Iran war.
The reduction in excise duty is expected to provide some relief to consumers grappling with increasing fuel costs.
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