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.”
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.”
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 consumerdoes not bear any additional burden: FM Sitharaman pic.twitter.com/2KDBeT5eCL— ANI (@ANI) February 1, 2021
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.
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