Fall in oil prices opens window for government to raise taxes2 min read 10 Mar 2020, 12:14 AM IST
Raising excise duty will limit the extent of price reduction that fuel retailers will be able to pass on to consumers
Petrol prices were deregulated in June 2010 by the Congress-led United Progressive Alliance (UPA) government
NEW DELHI : The sharp decline in global crude oil prices on Monday opens a window of opportunity for Prime Minister Narendra Modi’s government to increase excise duties on petrol and diesel to boost its revenues, at a time it is struggling to garner resources amid an economic slowdown.
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