New Delhi:
The PM Modi government has given a big gift to the people troubled by inflation. The prices of many things, including petrol-diesel price fall and gas cylinder (Gas Cylinder Subsidy), have come down.
The new prices will be applicable from Sunday, May 22. For a long time, the public was waiting for the government to extend a helping hand to fight inflation.
Let us know on which things the PM Modi government has announced a reduction in prices.
1- Petrol and diesel become cheaper
The PM Modi government has decided to implement a big cut in excise duty. Excise duty on petrol will be cut by Rs 8 and on diesel by Rs 7 excise duty. After this decision of the PM Modi government, now petrol will become cheaper by Rs 9.5. At the same time, diesel will also be cheaper by Rs 7. This decision of the government will put a burden of about Rs 1 lakh crore annually on the exchequer.
2- Subsidy of Rs 200 on gas cylinder
The PM Modi government has also decided to give gas subsidy to about 9 crore beneficiaries of PM Ujjwala scheme this year. The government has said that it will give a subsidy of Rs 200 per gas cylinder. This will cost the government about Rs 6100 crore annually.
3- Plastic products become cheaper
The government has cut excise duty on raw materials and intermediates of plastic products, for which import dependence is high. This will reduce the cost of plastic products.
4- Steel will be cheaper
The prices of steel and iron have also increased sharply in the last few days. In order to give relief to the public, the excise duty on raw materials and intermediates for iron and steel has also been reduced. That is, now steel and iron will also be cheaper. Excise duty exemption will also be given on some steel products.
5- Cement will also be cheaper
The PM Modi government has also decided to take important steps to increase the availability of cement. Efforts will also be made to reduce the cost of cement through better transportation of cement. Soon, detailed guidelines will also be issued by the government regarding this.
The common have been suffering due to inflation for a long time. The situation is that the inflation rate has reached close to 7 percent. The Reserve Bank of India (RBI) has had to increase the repo rate by 40 basis points. Not only diesel-petrol or gas, but edible oil, vegetables, wheat, grains, everything is getting expensive, due to which the expenditure of the public has increased a lot. In such a situation, the decision of the Modi government to reduce the excise duty on diesel-petrol is like a big relief for the public.
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