Byline By- Vinayak Heliwal
Union Finance Minister Nirmala Sitaraman in Budget 2021 announced the imposition of an Agricultural Infrastructure And Development Cess of Rs 2.5 per litre on petrol and Rs 4 on diesel from February 2.
This scheme comes as petrol and diesel prices are already skyrocketing. The petrol prices in the national capital have become a major issue for many as it crossed Rs 86 recently. The petrol prices in the financial capacity of Mumbai reached Rs 93 per litre as well.
The prices of petrol and diesel are rising upward and reaching new highs every day across the country. And with the rise in petrol and diesel prices, the common man is dealing with financial concerns every day.
“I propose an Agriculture Infrastructure and Development Cess (AIDC) on a small number of items. However, while applying this cess, we have taken care not to put additional burden on consumers on most items,” FM Sitharaman said in her Budget speech.
Meanwhile, with the implementation of cess on petrol and diesel, Netizens are believing that it will, in turn, increase the rate fare of vehicles.
Consequently ,unbranded petrol and diesel will attract basic excise duty of 1.4 and Rs 1.8 per litre respectively.
However, Nirmala Sitaraman said that such cess would not affect the consumers.