February 11, 2021 1:24:58 am
The government is not currently looking at cutting taxes on petrol and diesel, Union Minister for Petroleum and Natural Gas Dharmendra Pradhan said in a reply to a question in Rajya Sabha on Wednesday.
Oil marketing companies (OMCs) have hiked the prices of petrol and diesel by around Rs 3.9 per litre since the beginning of the year, on the back of higher crude prices and elevated taxes on petrol and diesel. The Centre had hiked taxes on petrol by Rs 13 per litre and on diesel by Rs 11 per litre last year to boost revenues amid lower economic activity due to Covid-19.
On Wednesday, the price of petrol reached an all-time high of Rs 87.6 per litre in Delhi, while that of diesel hit a record high of Rs 84.63 per litre in Mumbai.
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“There is no such proposal at present,” Pradhan said in a written reply to the question of whether the government was planning to reduce taxes on petrol and diesel.
The Minister noted, in response to supplementary questions, that both the Central and state governments were responsible for “this tax issue”.
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