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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.
'Move does not impact state sharing of taxes'
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?
Of this, around Rs 20,000 crore has gone to the states