#excise-duty
Government forwent Rs 1 lakh crore via excise duty cuts to shield consumers from fuel inflation: FM
India's Finance Minister Nirmala Sitharaman explains recent fuel price increases are market-driven by oil companies. She noted the government previously absorbed over Rs 1 lakh crore in revenue through excise duty cuts to protect consumers from inflation. The…
The case for cutting state taxes on petroleum products
While the Centre reduced excise duty earlier this year, most states have not cut VAT or sales tax rates, leading to significant differences in fuel prices across regions
West Asia crisis not a diplomatic issue, will lead to higher fuel costs for common man: Finance Minister Nirmala Sitharaman
Fuel prices have risen again. Union Finance Minister Nirmala Sitharaman highlighted the West Asia crisis impact. She stated this crisis means higher fuel costs for citizens. The government is foregoing Rs 1 lakh crore in revenue. This is due to excise duty cu…
ADB warns Asian economies against broad fuel subsidies, tax cuts amid oil price risks
The Asian Development Bank advised Asian economies to avoid broad fuel subsidies and excise duty cuts, warning they could strain public finances amid elevated crude oil prices. The lender suggested targeted cash transfers for vulnerable populations and a shif…