"Govt of India has reduced Basic Excise Duty rate on Petrol & Diesel (both branded and unbranded) by Rs 2 per litre w.e.f. 4th October, 2017," the finance ministry said in a tweet on Tuesday.
"Revenue loss on account of these reductions in excise duty is about Rs 26,000 crore in full year and Rs13,000 crore in remaining part of Current FY. This decision has also been taken by the Government of India in order to protect the interest of common man," the finance ministry said.
Basic excise duty on petrol, diesel slashed by Rs 2 - Times of India
Petrol, Diesel Set To Get Cheaper As Centre Cuts Excise Duty
"Revenue loss on account of these reductions in excise duty is about Rs 26,000 crore in full year and Rs13,000 crore in remaining part of Current FY. This decision has also been taken by the Government of India in order to protect the interest of common man," the finance ministry said.
Basic excise duty on petrol, diesel slashed by Rs 2 - Times of India
Petrol, Diesel Set To Get Cheaper As Centre Cuts Excise Duty
