Modi government will soon give good news – the prices of petrol and diesel may come down!

PM Modi News: In the month of July, the inflation rate in the country has reached a height of 15 months. At present, the biggest challenge for the central government is to control inflation. To reduce this, the government has started its big planning. The central government may soon announce a reduction in the prices of petrol and diesel. So that common people can get relief from inflation. In fact, the central government is busy planning to cut taxes on petrol and diesel. The last time the prices of petrol and diesel were reduced in all the four metros of the country, they were done only by reducing the tax. On May 21, the Finance Minister had reduced the duty.

Planning to do something similar is going on this time also. After the deduction towards the central government, the pressure on the states to reduce VAT will increase. Because of which petrol and diesel will be cheaper in the country in a state-wise manner. Due to which inflation will reduce. At present, the prices of petrol are more than Rs 100 in many cities of the country.

likely to cut tax on fuel

According to a Bloomberg report, according to people familiar with the matter, Indian officials are considering a plan to re-allocate Rs 1 lakh crore from the budget of various ministries to prevent the increase in food and fuel prices without affecting the federal deficit target. going. Prime Minister Narendra Modi will make a decision in the coming weeks, which may include reducing sales tax on local fuel and reducing import duty on cooking oil and wheat. By the way, RBI has not made any change in the repo rates after the monetary policy meeting last week.

Inflation at 15 month high

After Modi vowed to fight inflation that has hit a 15-month high in a speech to the nation this week, there has been a lot of curiosity among bureaucrats. India is such a country where the inflation of onion and tomato has brought down governments. Although Modi has only a few months to rein in voters to rein in prices, he also cannot afford to reduce the budget deficit, which is being closely watched by global investors.