Guwahati: A significant decline in gasoline and diesel costs will benefit a variety of industries and give relief to our citizens: PM

The Prime Minister stated that the Centre's decision on the Ujjwala subsidy and the decline in petrol and diesel prices will have a positive influence on numerous sectors, provide assistance to our folks, and increase "ease of living."

On Saturday, the Centre announced a reduction in excise duty on petrol of Rs 8 per litre and diesel of Rs 6 per litre, a big step in providing relief to people. Finance Minister Nirmala Sitharaman announced the changes in tweets, including a decrease in the tax rate on gasoline and petrol.

The Prime Minister tweeted in response to the choices, quoting the Finance Minister: "It is always people first for us!

Centre'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 also mentioned the plan to provide subsidies for gas cylinders under the Ujjwala scheme this year.

"The Ujjwala Yojana has aided millions of Indians, particularly women." "The Ujjwala subsidy decision would significantly alleviate household budgets," he noted.

Sitharaman, who also announced a cylinder subsidy under the Ujjwala scheme, encouraged governments to lower VAT on petroleum goods to help the ordinary man.

"We're lowering the central excise duty on petrol by Rs 8 per litre and diesel by Rs 6 per litre." This would lower fuel prices by Rs 9.5 per litre and diesel prices by Rs 7 per litre. It will cost the government roughly Rs 1 lakh crore every year, according to Sitharaman. "I wish to push other state administrations, particularly those where reductions were not implemented during the last cycle (November 2021), to likewise impose comparable cuts and provide assistance to the common man," she continued.

The minister stated that the government will provide a subsidy of Rs 200 per gas cylinder (up to 12 cylinders) to nearly nine crores Pradhan Mantri Ujjwala Yojana beneficiaries this year.
"This would result in income of roughly Rs 6100 crore every year," she added.

The minister also mentioned the Ukraine situation, saying that in addition to the fertilizer subsidy of Rs 1.05 lakh crore included in the budget, an additional sum of Rs 1.10 lakh crore is being handed to farmers to assist them. "Despite rising fertiliser costs throughout the world, we have safeguarded our farmers from such price increases." "In addition to the fertiliser subsidy of Rs 1.05 lakh crore offered in the budget, an extra sum of Rs 1.10 lakh crore is allocated to further cushion our farmers," she said.

Sitharaman stated that the Narendra Modi administration is committed to the welfare of the underprivileged.

"We've taken several initiatives to assist the poor and middle class." As a result, average inflation has stayed lower during our term than under prior governments," she remarked. The minister also stated that the government is lowering customs duties on raw materials and intermediates for plastic goods, where the country is heavily reliant on imports. "This will result in lower final product costs."