{"id":495334,"date":"2022-06-01T10:40:37","date_gmt":"2022-06-01T05:10:37","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=495334"},"modified":"2022-06-01T10:40:37","modified_gmt":"2022-06-01T05:10:37","slug":"states-have-the-fiscal-room-to-cut-taxes-on-petrol-diesel-sbi","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/states-have-the-fiscal-room-to-cut-taxes-on-petrol-diesel-sbi\/","title":{"rendered":"States have the fiscal room to cut taxes on petrol, diesel : SBI"},"content":{"rendered":"<p>States have the fiscal room to cut taxes upto Rs 5 per litre on fuel, a report from the State Bank of India NSE 0.62 % (SBI NSE 0.62 %) said. The states made Rs 49,229 crore from value-added tax (VAT) on fuel when oil prices were going up, but they will lose Rs 15,021 crore because excise duty was cut. As a result, they have flexibility to lower fuel costs through a reduction in state taxes, as profits exceed foregone revenue by Rs 34,208 crore.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>States have the fiscal room to cut taxes upto Rs 5 per litre on fuel, a report from the State Bank of India NSE 0.62 % (SBI NSE 0.62 %) said. The states made Rs 49,229 crore from value-added tax (VAT) on fuel when oil prices were going up, but they will lose Rs 15,021 crore because excise duty was cut. As a result, they have flexibility to lower fuel costs through a reduction in state taxes, as profits exceed foregone revenue by Rs 34,208 crore.<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,191,136],"tags":[],"class_list":["post-495334","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-economic-times","category-the-economic-times"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/495334","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\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=495334"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/495334\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=495334"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=495334"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=495334"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}