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Excise Duty Reduction On Petrol Diesel To Lower Goods Price By 10 CAIT

Excise Duty Reduction On Petrol Diesel To Lower Goods Price By 10 CAIT

CAIT also added that following the footstep of the central government, all the states should also reduce the rates of VAT, only then the public will get good relief from inflation

The Confederation of All India Traders (CAIT) on Monday has applauded the central government’s move to reduce the excise duty on petrol and diesel and said that the prices of other commodities will come down at least by 10 per cent. 

The trade body said that due to this step the cost of transportation of raw materials will also be cheaper which can lead to a decline in prices. 

CAIT also added that following the footstep of the central government, all the states should also reduce the rates of VAT, only then the public will get good relief from inflation.

BC Bhartia, National President and Praveen Khandelwal, Secretary-General, CAIT described this step of the central government as the sensitivity of Prime Minister Modi towards the citizens of India.   

The trade leaders said, “The reduction in excise duty reflects the intention of the government to give relief to the people. It is very important now to ensure that the big manufacturers should also bring down the prices of their products.” 

Bhartia and Khandelwal said that 80 per cent of movement of goods in the country is through road transport, which is driven by petrol and diesel. “Therefore, according to a rough estimate, this reduction should result in a reduction of about 10 per cent in the prices of all goods, which should be directly benefited by the consumers, they said. 

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They also suggested that the government should direct the manufacturers, especially those manufacturing food items, oils to make public a comparative chart of the prices of items before and after the exemption of excise duty in petrol and diesel for better understanding. 


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