Fuel excise cut A follow-up to November cuts, says Union Minister Hardeep Singh Puri

The reduction in excise duties on petrol and diesel is, in a sense, a follow-up to cuts in November last year, said Hardeep Singh Puri, minister of petroleum and natural gas.

“On the decision, which was made yesterday, I would like to remind you that it is something of a sequel. Earlier, a decision was made on November 4 last year due to the Prime Minister’s thoughtful and very thoughtful assessment that the burden of the common man, the Aam Aadmi needed to be addressed,” Puri said. CNBC-TV18 in an exclusive interview, on the sidelines of the 2022 annual meeting of the World Economic Forum.

He said the Prime Minister was very sensitive. He made his decision based on the input he received from many stakeholders within the system, his own ministers and other input provided there was a need to reduce the prices of petrol and fuel. diesel in this state, reduce excise by Rs 5 and 10, he mentioned.

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Speaking of oil marketing companies, Puri said, “They are very important stakeholders in our system and obviously they make their own decisions.”

He added that this is a difficult and demanding task, but that the oil marketing companies, as responsible citizens and responsible entities, play their part. “Now obviously if they’re under-recovering in one area, and that’s up to them, maybe because they’re catching up in petrochemicals or refining and other areas, they’re able to do it. But you know, it’s not for me, as Minister of Oil and Natural Gas, to have to tell them what they can do and what they can’t do” , Puri said.

For the full interview, watch the attached video

First post: STI


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