Rationalising non-capital expenditure has thus become critical, not only for protecting growth supportive capital expenditure but also for avoiding fiscal slippages.
Selling diesel at Rs 20-25/litre loss, petrol at Rs 14-18/litre loss: Private retailers to government
International crude oil has risen sharply to a decade high but state-owned fuel retailers with 90 per cent market, have frozen petrol and diesel prices at rates equivalent to two-third of the cost.
Hundreds of vehicles were lined up at almost every fuel station, waiting for their turn to be refilled, leading to traffic jams in some parts of the city and elsewhere in the valley as well.
As per the PPAC, the Indian basket of crude oil averaged USD 111.86 per barrel between February 25 and March 29 - the immediate period after Russia's invasion of Ukraine sent oil on fire.
According to an association, the dealer margins are to be revised every six months but the OMCs have not done the same since 2017 despite a steep increase in fuel prices and operational costs.
This will bring down the effective prices by Rs 8 on diesel and approximately Rs 10 on petrol
What wrong had the people of AP committed that the YSRC regime had failed to provide any additional relief to them on its part? the Leader of Opposition asked.
A hidden increase in the base price of petrol by oil companies has deprived consumers of the full benefits of the tax cut announced by the Central government.
Chidambaram on Sunday wondered whether the states can afford to give up revenue from the Value Added Tax on petrol and diesel unless the Centre devolves more funds or gives them more grants.
Taking to Twitter, Sitharaman said she is sharing some useful facts on levies on petrol and diesel for the benefit of all.
Bommai, last month was non-committal on any further cut in fuel tax by the state government, and had maintained that any decision in this regard will be taken after looking at the economy of the state.
The excise duty cut will translate into a reduction of Rs 8.69 a litre on petrol in Delhi and Rs 7.05 in diesel per litre after taking into account its impact on other levies.
TMC national spokesperson Sukhendu Sekhar Ray said the Centre has raised the prices of petrol and diesel at least 14 times in the past few months and by leaps and bounds in the past one year.
In a statement, Thackeray criticised the Central government for minimal reduction of excise duty on petrol and diesel.
Cut on fuel excise duty: Stop befooling people, says Congress; Nadda seeks VAT cut by opposition-ruled states
Congress chief spokesperson Randeep Surjewala said the government had increased the excise duty on petrol by Rs 10 in 60 days and is now 'duping' people by reducing it by Rs 9.50.