From Fuel Price Cut To LPG Subsidy: 6 Major Announcements Made By Nirmala Sitharaman Today | Check Here

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Finance Minister Nirmala Sitharaman made many announcements today , including a cut in central excise duty on fuel prices to help relieve the common man of the burden of inflation and rising prices. Sitharaman said prime minister Narendra Modi’s office had ‘specifically asked all arms of the government to work with sensitivity and give relief to the common man’. The announcements come as retail inflation surged to an eight-year high in April, driven by rising fuel and food prices

Here are the 6 top announcements made by Nirmala Sitharaman today:

1. Excise duty cut by Rs 8 per litre on petrol, by Rs 6 per litre on diesel. This will reduce the price of petrol by ₹ 9.5 per litre and of Diesel by ₹ 7 per litre.
7/12 We are reducing the Central excise duty on Petrol by ₹ 8 per litre and on Diesel by ₹ 6 per litre.
This will reduce the price of petrol by ₹ 9.5 per litre and of Diesel by ₹ 7 per litre.

It will have revenue implication of around ₹ 1 lakh crore/year for the government.

— Nirmala Sitharaman (@nsitharaman) May 21, 2022

2. A subsidy of Rs 200 per gas cylinder to over 9 crore beneficiaries of Pradhan Mantri Ujjwala Yojana.
9/12 Also, this year, we will give a subsidy of ₹ 200 per gas cylinder (upto 12 cylinders) to over 9 crore beneficiaries of Pradhan Mantri Ujjwala Yojana. This will help our mothers and sisters. This will have a revenue implication of around ₹ 6100 crore a year. #Ujjwala

— Nirmala Sitharaman (@nsitharaman) May 21, 2022

3. Import duty on some raw materials of steel will be reduced. Export duty to be levied on some steel products

10/12 We are also reducing the customs duty on raw materials & intermediaries for plastic products where our import dependence is high. This will result in reduction of cost of final products. #MSME #chemicals #Plastic #Customs

— Nirmala Sitharaman (@nsitharaman) May 21, 2022

4. Reduction on the customs duty on raw materials and intermediaries for plastic products where India’s import dependence is high.
11/12 Similarly we are calibrating customs duty on raw materials & intermediaries for iron & steel to reduce their prices.

Import duty on some raw materials of steel will be reduced.

Export duty on some steel products will be levied.#MSME #iron #steel #Customs #Export

— Nirmala Sitharaman (@nsitharaman) May 21, 2022

6. Measures are being taken up to improve the availability of cement and through better logistics to reduce the cost of cement, Sitharaman said.
12. Measures are being taken up to improve the availability of #Cement and through better logistics to reduce the cost of cement.

Notifications with specific details on all the above will be issued by GoI within the next hour.

— Nirmala Sitharaman (@nsitharaman) May 21, 2022

5. A fertiliser subsidy of Rs 1.10 crore, which will be in addition to the Rs 1.05 Lakh crore in this year’s budget.

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