India Cuts Excise Duty On Petrol and Diesel
India on Tuesday cut excise duty on petrol and diesel by two rupees a litre to protect retail consumers from higher global crude oil prices, the government said.
The new excise duty will be effective from Oct. 4, the Finance Ministry said in a message on Twitter.
The finance ministry had earlier ruled out lowering excise duties on petroleum products, citing pressure on government finances.
The new excise duty will be effective from Oct. 4, the Finance Ministry said in a message on Twitter.
The finance ministry had earlier ruled out lowering excise duties on petroleum products, citing pressure on government finances.
Reporting by Manoj Kumar
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