Government may reduce the price of Petrol and Diesel

New Delhi, 2/3 (AO Bureau) : In the midst of rising petrol-diesel prices, the Ministry of Finance is now considering an option to reduce excise duty. This will provide immediate relief to the common man from skyrocketing prices. News agency Reuters has given this information by quoting sources in one of its reports. The doubling in the price of Crude Oil during the last 10 months has increased the price of fuel in India, but, at the retail price of petrol-diesel, the general public has to pay about 60% tax and duties. is. The Coron virus epidemic has also severely affected economic activity. India is the third-largest crude oil importing country in the world.

In the last 12 months, the Modi government has increased the tax on petrol and diesel twice. Thus, even when the price of crude oil was at the lowest record level in the international market, the general public could not get great relief on the petrol-diesel front.

The decision may be made by mid-March
But the finance ministry is now considering a way to reduce tax in collaboration with various states, oil companies, and the oil ministry. Sources say that the Center also has to see that reducing the tax does not affect its finances. A source said, ‘We are discussing how to keep prices stable. By mid-March, we will be able to take a decision on this.

Comments are closed.