Diwali bonanza for citizens as Centre, states slash fuel prices

After months of rise in petrol and diesel prices, the Central government provided Diwali relief from fuel prices and announced cuts on petrol and diesel prices on the eve of the festival.

In a move that makes rare economic and political sense at a time when Narendra Modi government is facing criticism and crucial elections in future, a Diwali relief from fuel prices was announced by cutting the central levy on petrol by 5 and 10 on diesel on the eve of the festival day.

The most sizeable cut in recent times ended the long period of petrol and diesel prices, which stood over Rs 90 to Rs 115 per litre. The Govt hopes the cuts will check the prices of essentials heating up for the last few months and help farmers, who use diesel to irrigate the Rabi crop. This will, in turn, reduce the pinch for businesses emerging out of the pandemic blues.