Government cuts excise duty on petrol, diesel, How much loss will they suffer?

The Central Government on Saturday announced deduction in excise duty on petrol and diesel by Rupees 8 per litre and Ruppes 6 per litre respectively. This will reduce the price of petrol by Rs 9.5 per litre and of Diesel by Rs 7 per litre, said Union Finance Minister Nirmala Sitharaman. This year, we will give a subsidy of Rs 200 per gas cylinder (upto 12 cylinders) to over 9 crore beneficiaries of Pradhan Mantri Ujjwala Yojana further announced the finance minister.