Finance Minister Nirmala Sitharaman, at the time of announcing a reduction in excise duty, had urged states to reduce VAT. Her other cabinet colleagues including Oil Minister Hardeep Singh Puri made similar pleas.
Soon after a marginal cut in excise duty on petrol and diesel Saturday, opposition parties asked the Narendra Modi government in New Delhi to reduce taxes on fuel to 2014 level.
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Updated Mar 05, 2021 | 18:30 IST
ET Now learns that following OPEC and its allies decision, the centre is in a huddle and assessing the impact of rising fuel prices and if any “meaningful relief” can be provided to the common man. Centre assessing if “meaning relief” on fuel prices possible ahead of assembly polls
New Delhi: OPEC and its allies latest decision to not increase supplies in April awaiting more substantial recovery in demand is all set to send the fuel prices in an upward spiral further putting pressure on the central government to provide relief for the common man.
ET Now learns that following OPEC and its allies decision, the centre is in a huddle and assessing the impact of rising fuel prices and if any “meaningful relief” can be provided to the common man.
Updated Mar 01, 2021 | 21:04 IST
India s Finance Minister Nirmala Sitharaman recently said: I can t say when we will reduce taxes on fuel, but (the) centre and states have to talk to reduce fuel taxes . Govt considering cutting taxes on petrol, diesel
New Delhi: India s finance ministry is considering cutting excise duties on petrol and diesel to cushion the impact of record high domestic prices, three government officials close to the discussions said.
A doubling in the price of crude oil over the past 10 months has contributed to record fuel prices at gas stations in India. But taxes and duties account for roughly 60% of the retail price of petrol and diesel in the country, the world s third biggest consumer of crude oil.