Modi's leadership a protective shield: Rajasthan CM on fuel duty cut

Rajasthan CM Bhajanlal Sharma lauds PM Modi's leadership as a 'protective shield' for the country. He welcomed the Centre's move to slash central excise duty on petrol and diesel, saying it will strengthen millions of families economically.

CM Sharma Calls PM's Leadership a 'Protective Shield'

Rajasthan Chief Minister Bhajanlal Sharma on Friday lauded Prime Minister Narendra Modi's leadership, calling it a "protective shield for the country," and welcomed the government's move to slash central excise duty on petrol and diesel, saying it will strengthen millions of families and protect them from global uncertainties.

In an X post, Rajasthan Chief Minister said, "In this era of global challenges, the leadership of the Honorable Prime Minister Shri @narendramodi ji is proving to be a protective shield for the country. The decision to reduce the central excise duty on petrol from ₹13 to ₹3 per liter and on diesel from ₹10 to zero is highly commendable." "This sensitive step will provide economic strength to millions of families across the country. At the same time, they will remain free from the uncertainties of global fluctuations. My appeal is that all citizens stay away from rumors and unite to contribute to the progress of the state and the nation," he added.

Details of the Excise Duty Reduction

Bhajanlal's remarks come after the Central government reduced excise duty on petrol to Rs 3 per litre and brought it down to zero for diesel, as per a Gazette notification issued under the provisions of the Central Excise Act, 1944. Additionally, a windfall tax of Rs 21.5 per litre has been imposed on diesel exports.

Context: Global Tensions and Market Stability

The decision follows escalating tensions in West Asia, particularly the ongoing conflict involving the United States, Israel, and Iran, which has led to a blockade of the Strait of Hormuz--a crucial route that handles nearly one-fifth of the world's crude oil supply. Before the crisis, India sourced around 12-15% of its oil imports through this route.

While the duty cut is expected to ease pressure on oil marketing companies facing losses due to surging crude prices, retail prices of petrol and diesel have remained unchanged so far. The government has maintained that fuel supplies across the country remain stable. (ANI)

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