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Government bears full cost of excise duty cut on petrol, diesel: FM Nirmala Sitharaman | Economy News

Fuel price - Nirmala Sitharaman rebuts Opposition flak on excise duty cuts

Entire cost of reduction in excise duty on petrol and diesel is borne by Centre, says Sitharaman

Entire cost of reduction in excise duty on petrol and diesel is borne by Centre, says Sitharaman
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Hardeep Puri: Big part of petroleum cess used for free vaccine, poor and various developmental schemes: Hardeep Puri

Synopsis The government has justified high level of taxation on auto fuels suggesting that revenue from petroleum sector is important for running various developmental schemes but has refused to acknowledge the role played by higher prices of petrol and diesel in fuelling inflationary pressure on the economy. PTI The government has justified high level of taxation on auto fuels suggesting that revenue from petroleum sector is important for running various developmental schemes but has refused to acknowledge the role played by higher prices of petrol and diesel in fuelling inflationary pressure on the economy. Replying to a question on impact of rising fuel prices on country s economic recovery from the Covid-19 pandemic in the Lok Sabha, minister of petroleum and natural gas Hardeep Singh Puri said that revenue generated by taxation (on petroleum products) is used in various developmental schemes of the Government like Pradhan Mantri Gram Sadak Yojana (PMGSY), Pradhan Mantri Ujja

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