Petrol and diesel prices in India remained stable on June 12. Despite a recent increase in global crude oil prices, the fuel costs have remained unchanged for over three weeks. On June 12, petrol was priced at Rs 96.72 per litre in Delhi, while diesel was priced at Rs 89.62. In several cities, petrol is presently available for less than Rs 100.
Courtesy: Zee News
Amar Patnaik, Rajya Sabha MP and BJD leader retaliated at the Centre after it urged states to decrease VAT on petrol and diesel. During the lockdown, the Centre had dramatically increased excise tax, imposed extra excise duty, and had large revenue from cess, which was not shared with states. Odisha government will review its own resource base to determine whether additional VAT reductions are conceivable without jeopardising people's welfare… read-more
Courtesy: India Today
Veterans of Karnataka's Alcohol Beverages Industry, in a press release, urged the government to revise the excise duties on liquor. The press release further claimed that the current excise duty rates make the cheap segments "cheaper" and premium segments more "expensive". "By imposing additional excise duty on spirits and beer, Karnataka government is putting additional burden on consumers," said Bishan Kumar, Editor-in-chief of Spiritz… read-more
Courtesy: Brifly News
The Centre announced to reduce the excise duties on petrol and diesel by Rs 5 and 10 respectively. Following which, the fuel prices have remained constant. In Delhi, petrol is priced at Rs103.79 and diesel at Rs 86.67 per litre. In Mumbai, petrol and diesel costs Rs 109.98 and Rs 94.14 per litre respectively. In Chennai, petrol stands… read-more
Courtesy: United News Of India
The central government refuses to cut the excise duty cut on fuel products for fiscal concerns and a ₹10 cut may lead to a fiscal deficit of 0.58%, while it reduces inflation by just 0.2%. However, on July 20, the Centre explained that the petrol and diesel excise duty are being used for developmental infrastructure. Reportedly, additional expenditure for FY22 is expected during revised estimates.
Courtesy: Money Control