Petrol and Diesel

Photo: Science News For Students

Centre Refuses Excise Duty Cut On Fuel Products

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.

Wed, 21 Jul 2021 - 08:15 PM / by Aditi Chavan

Tags: Excise Duty, Fuel, Inflation, Centre

Courtesy: Money Control