Centre considers cutting excise duties on petrol, diesel prices

The Ministry of Finance is considering cutting excise duties on petrol and diesel to cushion the impact of record-high domestic prices, three government officials close to the discussions said. As the coronavirus pandemic hit economic activity, Prime Minister Narendra Modi's government raised taxes twice on petrol and diesel in the last 12 months to boost sagging tax revenues instead of passing on the benefits of low oil prices last year to consumers. Watch the video for more. Also Read: ATF price up by steep 6.5%; petrol, diesel unchanged