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Government Cuts Excise Duty On Petrol, Diesel By Rs. 2 Per Litre

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The government on Tuesday cut excise duty on petrol and diesel by two rupees a litre to protect retail consumers from higher global crude oil prices, the finance ministry said. The new excise duty will be effective from tomorrow, October 4. The government, which had raised duties three years ago to take away gains arising from plummeting global oil prices, has been criticised for not cutting excise duty despite a sustained rise in fuel prices since early July.

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