News18» News»Business»Budget 2021: Petrol, Diesel, Alcohol Prices to Remain Unchanged Despite Imposition of Agri Infra Cess
1-MIN READ

Budget 2021: Petrol, Diesel, Alcohol Prices to Remain Unchanged Despite Imposition of Agri Infra Cess

A worker holds a nozzle to pump petrol into a vehicle at a fuel station. (File photo/Reuters)

A worker holds a nozzle to pump petrol into a vehicle at a fuel station. (File photo/Reuters)

Finance Minister Nirmala Sitharaman said in her speech that agricultural cess on a few items won't affect consumers.

Finance Minister Nirmala Sitharaman's Union Budget 2021 proposed an Agricultural Infrastructure and Development CESS of Rs 2.5 per litre on petrol and Rs 4 on diesel. However, prices for petrol and diesel won't change because or reduction in other duties.

Agricultural cess was also applied on several other goods including a 100% cess on alcohol, 2.5% on gold and silver bars, 17.5% on crude palm oil, 20% on crude soyabean, sunflower oil, 35% on apples and 40% on peas.

This will be applicable from February 2.

Sitharaman said that such cess would not affect consumers. She said, "Consequent to imposition of Agriculture Infrastructure and Development Cess (AIDC) on petrol and diesel, Basic excise duty (BED) and Special Additional Excise Duty (SAED) rates have been reduced on them so that overall consumer does not bear any additional burden."

RELATED NEWS

ANI quoted her as saying, "Consequently, unbranded petrol and diesel will attract basic excise duty of Rs 1.4, and Rs 1.8 per litre respectively. The SAED on unbranded petrol and diesel shall be Rs 11 and Rs 8 per litre respectively. Similar changes have also been made for branded petrol and diesel."

Sitharaman presented the Budget 2021 speech on Monday with a slew of measures on road infrastructure, railways, tax ease for senior citizens above the age of 75 among other things.

Loading...