'It's better than nothing': Sharad Pawar after Centre cuts excise duty cut on petrol, diesel

After the Centre on Saturday reduced the Central excise duty on petrol by Rs 8 per litre and on diesel by Rs 6 per litre, Nationalist Congress Party (NCP) chief Sharad Pawar took a dig at the Prime Minister Narendra Modi-led government and said, "it's better than nothing".

Maharashtra Chief Minister Uddhav Thackeray said the Central excise duty should be reduced further.

In a statement, Thackeray said the central government had hiked excise duty on petrol by Rs 18.42 per litre two months ago and today it has reduced it by Rs 8. Excise duty on diesel had been increased by Rs 18.24 and has now been reduced by Rs 6, he added.

Noting this, the Chief Minister said it is not right on the BJP-led government's part to massively increase prices and then reduce them nominally.

Meanwhile, today's excise duty cut will translate into a reduction of Rs 9.5 a litre on petrol and Rs 7 a litre in diesel after taking into account its impact on other levies.

Prime Minister Narendra Modi, meanwhile, said that people are the first priority for his government. Modi tweeted, "It is always people first for us! Today's decisions, especially the one relating to a significant drop in petrol and diesel prices will positively impact various sectors, provide relief to our citizens and further 'Ease of Living'."