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Ms Sitharaman, in a series of tweets, explained that the excise duty component that has been slased not shareable by the state and the Centre bears the full cost.
Finance Minister Nirmala Sitharaman on Sunday said that excise duty reduction has entirely been made in road and infrastructure cess
Union Finance Minister Nirmala Sitharaman on Sunday clarified that the entire cost of the reduction in excise duty on petrol and diesel is borne by the central government and the state's revenue won't be impacted by the move.
The duty reduction made in November 2021 has an implication of Rs 1,20,000 crore a year for Centre.
With healthy revenue collections through GST and excise, the government is comfortably placed for now. But will the Centre effect excise cuts in fuel prices to provide relief to the common man?