In a major relief to the people, the Narendra Modi government announced rate cuts a day ahead of Diwali. With this move, the central levy on petrol and diesel was cut by Rs 5 and Rs 10. This decision comes at a time when the Modi government is facing a lot of criticism and has crucial elections in the future. The most sizeable cut in recent times ended the long period of petrol and diesel prices, which stood over Rs 90 to Rs 115 per litre.