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of <h1>Excise Duty on Petrol and Diesel Reduced in Budget 2021-22 to Offset New Agriculture Cess, No Extra Cost to Consumers.</h1> The Budget 2021-22 and Finance Bill, 2021, announced changes to the excise duty rates on petrol and diesel effective from February 2, 2021. The Basic Excise Duty (BED) and Special Additional Excise Duty (SAED) on both unbranded and branded petrol and high-speed diesel have been reduced to offset the impact of the newly imposed Agriculture Infrastructure and Development Cess (AIDC), ensuring no additional financial burden on consumers. The revised duties are specified per liter for each fuel type, with adjustments made accordingly to maintain overall pricing stability.
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