Economic Survey 2022:Excise duty cut on petrol, diesel provided relief to consumers

✔ Fact Checked by TDPel News Desk

By Lola Smith

Published: January 31, 2022 | 11:37 AM GMT

The reduction in excise duty on petrol and diesel provided relief to the consumers, stated the Economic Survey 2021-22.

“Reduction in central excise and subsequent cuts in VAT by most states has also helped ease petrol and diesel prices,” the Survey said.

Retail prices of petrol and diesel are typically linked to the prices of crude oil.

“The dollar exchange rate was also on the upward trend and is hovering around Rs 75 per USD which was also impacting the prices of petrol and diesel,” the survey added.

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About Lola Smith

Lola Smith is a highly experienced writer and journalist with over 25 years of experience in the field. Her special interest lies in journalistic writeups, where she can utilize her skills and knowledge to bring important stories to the public eye. Lola’s dedication to her craft is unparalleled, and she writes with passion and precision, ensuring that her articles are informative, engaging, and thought-provoking. She lives in New York, USA.