And she announced in a series of tweets that the reduction of the consumption tax for gasoline is 8 rupees ($ 0.1028) per liter, and diesel is 6 rupees per liter.
It said its annual revenue is expected to lose around 1 trillion Indian rupees, and urged state governments to follow suit with similar cuts in line with the federal government’s plan.
The price of a liter of gasoline is 105.41 rupees, and the price of diesel is 96.67 rupees, in New Delhi.
Sitharaman said, “Prime Minister Narendra Modi has asked all government agencies to work to ease the burden on the ordinary citizen.”
The government will also provide a subsidy of Rs 200 per cylinder of cooking gas to over 90 million beneficiaries under the Social Welfare Scheme for Women Below the Poverty Line.
Sitharaman added that the government will also reduce import duties on raw materials for plastic, iron and steel products in the hope of lowering the cost of final products.