Excise Duty Cut

There's no reason to lower excise duty on petroleum products, Revenue Secretary Sanjay Malhotra told NDTV today, explaining that it was already done twice when crude prices were at their peak.

The Finance Ministry has exempted domestic airlines running international flights from 11 per cent basic excise duty on ATF or jet fuel bought from oil marketing companies.

The windfall tax on oil produced within India and fuel exported overseas will make up for more than three-fourths of the revenue that the government lost when it cut excise duty on petrol and diesel to cool soaring inflation, industry sources said.

Government can meet the fiscal deficit target of 6.4 per cent for 2022-23 if there are no excise duty cuts to lower high oil prices

Petrol and diesel prices have been kept steady for a month after the government's much-needed move to cut excise duty on May 21.

Government revenues have taken a hit following cuts in excise duties on diesel and petrol, posing risk to budget level of gross fiscal deficit

Petrol, Diesel Prices Today: Fuel prices remained unchanged on June 9, 2022 for the 18th consecutive day across four metros

Higher than usual imports of Russian oil at significant discounts to market prices may limit near-term working capital needs of fuel retailers

RBI is expected to go for another rate hike of 0.40 per cent at the scheduled review of the monetary policy next week, a foreign brokerage said

With fuel prices remaining unchanged for almost two months despite a rise in cost, oil companies have started detailing under-recoveries or losses

Daily gasoil sales of Indian state refiners declined in May from April as lower consumer spending curtailed truck movement in the country

Petrol, Diesel Prices Today: Fuel prices remained unchanged on May 31, 2022 for the tenth day across the four metros

Petrol, Diesel Prices Today: Fuel prices remained unchanged on May 29, 2022 for the eighth day across the four metros

Finance ministry has not yet taken a view on the civil aviation ministry's plea for tax cuts on jet fuel or aviation turbine fuel to bring down prices

Government is not planning any additional borrowing and will stick to the borrowing target fixed for the current fiscal year

There's no reason to lower excise duty on petroleum products, Revenue Secretary Sanjay Malhotra told NDTV today, explaining that it was already done twice when crude prices were at their peak.

The Finance Ministry has exempted domestic airlines running international flights from 11 per cent basic excise duty on ATF or jet fuel bought from oil marketing companies.

The windfall tax on oil produced within India and fuel exported overseas will make up for more than three-fourths of the revenue that the government lost when it cut excise duty on petrol and diesel to cool soaring inflation, industry sources said.

Government can meet the fiscal deficit target of 6.4 per cent for 2022-23 if there are no excise duty cuts to lower high oil prices

Petrol and diesel prices have been kept steady for a month after the government's much-needed move to cut excise duty on May 21.

Government revenues have taken a hit following cuts in excise duties on diesel and petrol, posing risk to budget level of gross fiscal deficit

Petrol, Diesel Prices Today: Fuel prices remained unchanged on June 9, 2022 for the 18th consecutive day across four metros

Higher than usual imports of Russian oil at significant discounts to market prices may limit near-term working capital needs of fuel retailers

RBI is expected to go for another rate hike of 0.40 per cent at the scheduled review of the monetary policy next week, a foreign brokerage said

With fuel prices remaining unchanged for almost two months despite a rise in cost, oil companies have started detailing under-recoveries or losses

Daily gasoil sales of Indian state refiners declined in May from April as lower consumer spending curtailed truck movement in the country

Petrol, Diesel Prices Today: Fuel prices remained unchanged on May 31, 2022 for the tenth day across the four metros

Petrol, Diesel Prices Today: Fuel prices remained unchanged on May 29, 2022 for the eighth day across the four metros

Finance ministry has not yet taken a view on the civil aviation ministry's plea for tax cuts on jet fuel or aviation turbine fuel to bring down prices

Government is not planning any additional borrowing and will stick to the borrowing target fixed for the current fiscal year