Diwali bonanza: Govt cuts excise duty on Petrol, diesel; fuel price to go down from tomorrow

The Centre on Wednesday (November 3) announced a cut in the excise duty on petrol and diesel. On the eve of Diwali, the government reduced the excise duty on petrol and diesel by Rs 5 and Rs 10, respectively. The decision will come into effect from Thursday. The revenue impact of the excise duty cut on the exchequer for the five months will be Rs 55,000-60,000 crore.

via Economictimes

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