Odisha Chief Minister Mohan Charan Majhi expressed gratitude to Prime Minister Narendra Modi for reducing central excise duty by Rs 10 per liter on petrol and diesel. CM Majhi praised the move as significant, emphasizing India’s prudent actions under PM Modi’s leadership. The reduction aims to ensure ample availability of fuel and essential goods, offering immediate relief to households and shielding them from global price fluctuations.
CM Majhi highlighted the importance of the excise duty cut in stabilizing domestic fuel prices and protecting public welfare. He urged citizens to stay calm, avoid misinformation, and support the government in maintaining stability. The Chief Minister emphasized the need for trust and collective responsibility to overcome challenges with resilience and unity.
The government’s decision to slash excise duties on petrol and diesel by Rs 10 per liter each, lowering them to Rs 3 per liter for petrol and zero for diesel, seeks to mitigate the impact of rising global oil prices. Additionally, exemptions on duties for fuel exports and supplies to foreign-going aircraft have been provided. The Centre has also revoked a 2022 notification and granted customs duty relief on imported aviation turbine fuel (ATF).
This reduction in excise duties comes amidst concerns of a potential price surge due to the global energy crisis triggered by the US-Israel conflict with Iran and the resulting blockade of the Strait of Hormuz.
