Let us put the 8 major decisions taken by the government to curb inflation.
1. The central government first announced the reduction of excise duty on petrol and diesel. Excise duty was reduced by Rs 8 on petrol and Rs 6 per liter on diesel so that common people could get relief from expensive fuel.
2. The government banned the export of wheat in view of the rising prices of wheat. So that the shortfall in production can be dealt with. Wheat production has come down due to scorching heat.
3. The government has fixed the limit of export of sugar in view of the rising prices of sugar. Sugar companies will not be able to export more than 10 million tonnes of sugar this season. Due to expensive sugar, from sweets, biscuits to all those things were getting expensive through which sugar is used.
4. The government has decided to give a subsidy of Rs 200 on gas cylinders to the beneficiaries under the Ujjwala scheme. So that cheap cooking gas can be made available to these people.
5. In view of the rising steel prices in the country and to increase the supply of steel in the domestic market, the Central Government has decided to impose duty on the export of steel. This will benefit infrastructure, real estate companies as well as auto companies which were troubled by cost escalation.
6. The government has decided to reduce the import duty on many raw materials associated with the steel and plastic industry. So that cheap raw material can be available to these companies.
7. The government has decided to import two million tonnes of crude soybean and crude sunflower oil without import duty in this financial year and next financial year to control the rising prices of edible oil.
8. In order to get rid of costly fertilizers to the farmers, it has been decided to give an additional subsidy of Rs 1.1 lakh in addition to the subsidy of Rs 1 lakh crore allocated in the budget. Farmers are expected to get relief from this step.