Fuel duty cut to soften inflationary pressures: Finance Ministry
NEW DELHI: The Finance Ministry on Wednesday, November 10, 2021, said that while core inflation remains a matter of concern, the recent cut in central excise duty on petrol and diesel prices is expected to soften inflationary pressures exerted by rising crude oil prices.
“Core inflation, which reflects hardening of input costs and ripple effects of escalating global crude oil prices, poses concerns. Yet, these concerns have not embedded themselves in self fulfilling inflationary expectations as seen in RBI’s inflation survey. Further, the recent cut in central excise duty on petrol and diesel prices is expected to soften inflationary pressures exerted by rising crude oil prices,” the ministry said in its monthly economic report.
