The Andhra Pradesh chief minister has taken a bold step today by cutting down the excise duty on fuel prices.To much of everyone’s surprise and giving a masterstroke to the opposition, the chief minister Chandrababu Naidu has declared openly that the government is cutting 2% excise duty on both petrol and diesel. By this, the petrol and diesel prices in A.P will be reduced by 2 rupees/litre. Favouring the need of the common man, Chandrababu has taken this step in the assembly today.
The cost of this bold decision taken by the chief minister is whopping 1120 Crores. By cutting 2% excise duty the government will have to take a burden of 1120 crores in the annual budget. Keeping all this aside, giving utmost importance to the common man over the exorbitant prices increased by the central government, CBN has taken this initiative.
