Central Government has finally decided to stop the arrest of increasing Fuel Prices. A high-level meeting convened by the Prime Minister Narendra Modi has decided to reduce the Excise Duty by 1.50 Rupees. Finance Minister Arun Jaitley has also announced that the government will ask the Oil Companies to reduce the Prices by another One Rupee.
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Arun Jaitley also added that he will be writing to the State Governments to Reduce State Taxes to relieve the consumers. Andhra Pradesh is one of the very few states which has already cut the State Taxes. The State Government has cut the Taxes to the extent of Two Rupees per Liter.
Jaitley once again blamed international crude prices for the near-daily rise in petrol and diesel prices. Petrol Prices are racing towards the Century and has already crossed 90 Rupees at some places in the country. With elections around the corner for four states, the central government finally moved.
