Cut Indirect Taxes On Petrol, Diesel: RBI Said To The Centre And State Governments
As the fuel prices are touching historic heights in India. Thus, RBI interferes in between and urged the Centre and state governments to reduce the prices of petrol and diesel. There is 60% of indirect taxes on petrol and 54% in the case of diesel by the central and local government.
Therefore, the stride in fuel prices could burn the pocket of the common man, thus the governor of the RBI(shaktikanta das) has raised his attention on this subject.
According to the monetary policy meetings on Monday, the governor said ‘’calibrated unwinding’’ of the taxes is necessary to reduce the price pressure from the economy.
‘’CPI inflation, excluding food and fuel remains elevated at 5.5% in December’’, due to the inflationary impact of rising crude oil rising and indirect taxes on pet...