New Delhi, March 27 -- The Chamber of Trade and Industry (CTI), a leading body representing traders and entrepreneurs, has welcomed the Centre's decision to sharply reduce excise duty on petrol and diesel, saying the move will provide relief to businesses and help contain inflationary pressures.
According to official details, the Central government has reduced excise duty on petrol from Rs 13 per litre to Rs 3 per litre, while the duty on diesel has been cut from Rs 10 per litre to nil.
Reacting to the decision, CTI Chairman Brijesh Goyal said traders, shopkeepers, factory owners and transport operators across Delhi and the country have widely appreciated the move.
He noted that the reduction comes at a crucial time when global crude oil...