{"id":341198,"date":"2020-03-11T10:30:19","date_gmt":"2020-03-11T05:00:19","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=341198"},"modified":"2020-03-11T10:52:13","modified_gmt":"2020-03-11T05:22:13","slug":"oil-price-slump-centre-may-not-hike-excise-duty-for-petro-products","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-price-slump-centre-may-not-hike-excise-duty-for-petro-products\/","title":{"rendered":"Oil price slump: Centre may not hike excise duty for petro products"},"content":{"rendered":"<p>The Centre has ruled out an increase in excise duties on petroleum, and believes that softening global crude prices would dampen inflation, which would induce the Reserve Bank to cut policy rates. <\/p>\n<p>\u201cWe are not in favour of an excise duty hike as that would add to inflationary pressures for the end-users. Softening inflation due to oil prices would increase consumers comfort,\u201d a top government official said. <\/p>\n<p>\u201cThe crude oil prices have led to bond yields also coming down. This will also have a counter-inflationary impact, and could lead to a situation which is conducive for a rate cut,\u201d the official said. On Monday, the yield on the benchmark 10-year Indian government debt slid below 6 per cent for the first time since 2009. It ended trading down 12 basis points to 6.07 per cent.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Centre has ruled out an increase in excise duties on petroleum, and believes that softening global crude prices would dampen inflation, which would induce the Reserve Bank to cut policy rates. \u201cWe are not in favour of an excise duty hike as that would add to inflationary pressures for the end-users. Softening inflation due to oil prices would increase consumers comfort,\u201d a top government official said. \u201cThe crude oil prices have led to bond yields also coming down. This will also have a counter-inflationary impact, and could lead to a situation which is conducive for a rate cut,\u201d the [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,169],"tags":[],"class_list":["post-341198","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-oil-gas-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/341198","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=341198"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/341198\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=341198"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=341198"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=341198"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}