URL copied Image Source : FILE PHOTO
Petrol, diesel prices in some states, cities in the country are at a record high these days. (Image for pictorial representation)
Petrol, diesel prices are at a new high these days as fuel cost in some states, cities are lingering somewhere around Rs 90-100 per litre. During such times when the common man is trying to balance his budget to accommodate rising fuel price, the government can cut petrol, diesel cost by up to Rs 8.5 per litre without hurting its revenues, say, analysts.
Analysts say that the government has room to cut excise duty on petrol and diesel by up to Rs 8.5 per litre without impacting its target for revenue from the tax on the two fuels.
"There is no such proposal at present," Dharmendra Pradhan said in the Rajya Sabha when asked if the government was looking at cutting taxes to cool off prices.