Finance Minister Nirmala Sitharaman on Monday tabled the Union Budget 2021 in Parliament. While Sitharaman kept the Income Tax slabs unchanged, she imposed an additional agriculture cess on petrol and diesel. However, the new cess will not have any impact on the price of these petroleum products for general consumers.
"An agriculture Infrastructure and Development Cess (AIDC) of Rs 2.5 per litre has been imposed on petrol and Rs 4 per litre on diesel. For other duties and cess, as revised, consequent to imposition of AIDC) on these items refer to part B. Overall there would be no additional burden on the consumer," the Budget document stated.
TO BE UPDATED.