Exclusive: Indian Ministry of Finance plans to cut taxes on gasoline and diesel – sources

Exclusive: Indian Ministry of Finance plans to cut taxes on gasoline and diesel - sources

Business

India’s finance ministry plans to cut excise taxes on gasoline and diesel to cushion the impact of record domestic prices, three government officials familiar with the talks said.

FILE PHOTO: A worker holds a nozzle to pump gasoline into a vehicle at a gas station in Mumbai, India May 21, 2018. REUTERS / Francis Mascarenhas

01 March 2021 11:00 p.m.

Bookmark

NEW DELHI Reuters) – India’s finance ministry is considering lowering excise duties on gasoline and diesel to cushion the impact of record domestic prices, three government officials familiar with the talks said.

The doubling of the price of crude oil over the past 10 months has contributed to record fuel prices at service stations in India. But taxes and duties account for around 60% of the retail price of gasoline and diesel in the country, the third largest in the world …

Source

News Highlights Finance

  • Headline: Exclusive: Indian Ministry of Finance plans to cut taxes on gasoline and diesel – sources
  • Check all news and articles from the Finance news updates.
Disclaimer: If you need to update/edit/remove this news or article then please contact our support team.
For Latest Updates Follow us on Google News
Bollyinside - US Local News & Breaking News Stories
Logo
Compare items
  • Total (0)
Compare
0