Modi government quoted oil bonds as the reason for not cutting the high fuel prices. UPA government issued oil bonds to compensate the losses of Oil Marketing Companies. The excise collected on fuel unfolds a different story altogether.
India News: Issuing a strong rebuttal to finance minister Nirmala Sitharaman’s argument that the Modi government would not cut excise duty on petrol and diesel fo
India s fuel demand in May slumped to its lowest in nine months as restrictions to curb the second wave of COVID infections stalled mobility and muted economic activity.
Oil demand fell 11.3% to 15.11 million tonnes compared to the previous month and was down 1.5% from a year earlier, data from the Petroleum Planning and Analysis Cell (PPAC) of the Oil Ministry showed
India Business News: India's fuel demand slumped in May to its lowest since August last year with a second Covid-19 wave stalling mobility and muting economic activity in