New Delhi: Amidst rising inflation for a long time, the general public has now got a big relief. Now the government has blown the bugle against the rising inflation. The prices of LPG gas cylinders and petrol and diesel have been drastically reduced. Now the price of the gas cylinder has been reduced by Rs 200 and Rs 9.50 on petrol and Rs 7 per litre on diesel. On Saturday, Union Finance Minister Nirmala Sitharaman tweeted, "This year we will give a subsidy of Rs 200 per gas cylinder (up to 12 cylinders) to more than 9 crore beneficiaries of the Pradhan Mantri Ujjwala Yojana. This will help our mothers and sisters. This will affect the revenue of about Rs.6100 crore annually.''
The central government has also reduced the excise duty on petrol and diesel on Saturday. In this regard, Finance Minister Nirmala Sitharaman said that we are reducing the central excise duty on petrol by Rs 8 per litre and on diesel by Rs 6 per litre, this will reduce the price of petrol by Rs 9.5 per litre and diesel by Rs 7 per litre. On Thursday (May 19), there was news that the prices of LPG gas cylinders have increased. During this period, LPG was increased by Rs 3.50 per cylinder and on commercial cylinders by Rs 8 per cylinder. After this increase, the price of cylinders in the country had crossed one thousand rupees and the price of the domestic cylinder in Delhi was Rs.1003 per cylinder and in Kolkata, it was Rs.1029 per cylinder. However, now that the rate has been cut, the general public can get a lot of relief.
Union Finance Minister Nirmala Sitharaman also said that in addition to the Rs 1.05 lakh crore fertilizer subsidy in the budget, an additional Rs 1.10 lakh crore will be provided for further assistance to the farmers of the country. The government reduced the import duty on raw materials used in making plastic products, iron, and steel. It will reduce the cost of plastic packaging. Apart from this, export duty on finished steel has been increased.
The Finance Minister said that the government will reduce customs duty on raw materials and middlemen for plastic products in some cases and this will reduce the cost of final products. The government is re-calibrating customs duty on raw materials and middlemen for the iron and steel industries to help bring down their prices. Import duty will be reduced on some raw materials required for the manufacture of steel and export duty will be levied on some steel products.