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Petrol diesel prices, Nirmala Sitharaman explainer on petrol diesel price cut, Chidambaram, BJP, Congress, PM Modi, Narendra Modi, Petrol Diesel prices today
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'
Synopsis The government has justified high level of taxation on auto fuels suggesting that revenue from petroleum sector is important for running various developmental schemes but has refused to acknowledge the role played by higher prices of petrol and diesel in fuelling inflationary pressure on the economy. PTI The government has justified high level of taxation on auto fuels suggesting that revenue from petroleum sector is important for running various developmental schemes but has refused to acknowledge the role played by higher prices of petrol and diesel in fuelling inflationary pressur...