Agri Cess On Petrol Diesel: Union Finance Minister Nirmala Sitharaman today presented the budget for the next financial year 2021-22 on 1 February. In this budget, he announced the imposition of Agriculture Infrastructure and Development Cess on petrol and diesel. According to the budgetary announcement, an agricultural infra and development cess of Rs 2.5 per liter of petrol and Rs 4 per liter of diesel will be imposed. Despite this, petrol and diesel will not be expensive because basic excise duty (BYD) and special additional excise duty have been cut. Presenting the budget, the Finance Minister said that due to the reduction in BED and SAED, there will be no additional burden on increasing the cess on people.
Oil will not be expensive despite agri cess
The Finance Minister said that despite imposing an agri cess, consumers should not be subjected to the additional burden, for this, basic excise duty and special additional excise duty on petrol and diesel have been cut. According to the budget speech, basic excise duty of Rs 1.4 will be levied on petrol per liter instead of Rs 2.98 and on diesel Rs 4.83 instead of Rs 4.83. Apart from this, a special additional excise duty of Rs 11 per liter of petrol and Rs 8 per liter of diesel will be levied. Special additional excise duty has been reduced by one rupee per liter. In this way, agri cess has been imposed, but due to cuts in BYD and SAED, oil will not become expensive.
Due to this, agricultural cess has been imposed
While presenting the budget, Finance Minister Nirmala Sitharaman stated the urgent need to improve the agricultural infrastructure. Apart from this, the need was also to improve the processing of agricultural products. To meet this goal, the Finance Minister announced to set up Agriculture Infrastructure and Development Cess. This cess will be applied on many things like petrol, diesel and gold and silver.