Government Slashes Excise Duty on Petrol, Diesel: Big Relief for Consumers, Industry

• Central government significantly cuts excise duty on petrol and diesel to aid common people and industry.
• Excise duty on petrol reduced from ₹13 per liter to ₹3 per liter.
• Excise duty on diesel completely abolished, reduced from ₹10 per liter to NIL.
• Aims to lower fuel costs, reduce transportation expenses, and help control inflation.
• Benefits for Oil Marketing Companies include improved margins, increased demand, better cash flow, and reduced inventory losses.