Highlights

  • Petrol, diesel cheaper as Union govt cut excise duty
  • Rs 200 per cylinder subsidy for Ujjwala Yojana beneficiaries
  • Fertiliser subsidy boosted to provide relief to farmers

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Govt's mega attack on inflation: food, fuel, farm big cut in prices

With inflation touching multi-year highs, the Narendra Modi government announced a 3-pronged strategy to provide relief to common citizens.

The Modi govt has come out guns blazing to reduce the pressure of prices on the common man with a hat trick of measures ranging from fuel, cooking gas to fertilizer subsidy.

Excise duty cut
Pulling down record high prices at the fuel pump, the Finance Minister announced a reduction of 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 of Diesel by Rs 7 per litre.

LPG cylinder becomes cheaper
As domestic cooking gas cylinder prices topped Rs 1000 all over the country, the govt announced a reduction of Rs 200/cylinder for up to 12 cylinders under the Pradhan Mantri Ujjwala Yojana. This reverses all the price hikes on LPG cylinders since 2021. Since April 2021, prices had risen by Rs 193.5 per cylinder.

Fertilizer subsidy boosted
Farmers were facing severe pressure as fertilizer prices surged due to the war in Ukraine and had appealed for relief which the govt is delivering with a boost in fertilizer subsidy. The FM tweeted that in addition to the fertilizer subsidy of ₹ 1.05 lakh crore in the budget, an additional amount of ₹ 1.10 lakh crore is being provided to further cushion the farmers.


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