Finance Ministry Rules Out Cut In Excise Duty On Petrol, Diesel

Finance Ministry Rules Out Cut In Excise Duty On Petrol, Diesel

Consumers will continue to pay higher taxes on petrol and diesel as the government has no plans to lower the excise duty on fuel. This is because notwithstanding the robust collections from the Goods and Services Tax, the Centre continues to remain vigilant about its fiscal health. “There is no proposal to lower the excise duties on petrol and diesel. We are not looking at anything of the sort at the moment,” said a senior government official.

While the dividend payment from the Reserve Bank of India at ₹30,659 crore is lower than estimated ₹58,000 crore and uncertainty over the projected ₹72,500 crore from disinvestment receipts, the Centre is keeping a close eye on its fiscal projections. Read More…

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