Amid the clamour for a reduction in taxes on petrol and diesel in the wake of the relentless rise in retail prices of the two fuels, finance minister Nirmala Sitharaman on Thursday said that the issue needed to be resolved jointly by the Centre and state governments.<\/p>\n
The minister said she would not be able to say whether and when the taxes on fuels would be reduced, but added that retail fuel prices were not all about cesses levied by the Centre, but included excise duty (shared with states) as well as VAT levied by states. \u201cThere is no hiding the fact that revenue for the governments is there in fuel. At the same time, the government wants the end consumer to pay less for the fuel. For the purpose central and state governments need to decide mutually,\u201d she said.<\/p>\n
As the government and the Reserve Bank of India (RBI) gear up for a review of a medium-term inflation targeting framework in March, the minster said the government was committed to ensure that inflation doesn\u2019t go beyond acceptable levels. <\/p>\n","protected":false},"excerpt":{"rendered":"
Amid the clamour for a reduction in taxes on petrol and diesel in the wake of the relentless rise in retail prices of the two fuels, finance minister Nirmala Sitharaman on Thursday said that the issue needed to be resolved jointly by the Centre and state governments. The minister said she would not be able to say whether and when the taxes on fuels would be reduced, but added that retail fuel prices were not all about cesses levied by the Centre, but included excise duty (shared with states) as well as VAT levied by states. \u201cThere is no hiding […]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,195,138],"tags":[],"class_list":["post-402236","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-financial-express","category-the-financial-express"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/402236","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\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=402236"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/402236\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=402236"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=402236"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=402236"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}