Mint Quick Edit | India must let fuel prices go up for demand and supply to find a new balance
For the Centre to even partly cover their losses is unsustainable anyway, given its fiscal limitations. Annualized, the duty cut means an estimated ₹1.5 trillion of tax revenue forgone. The mop-up from a new export levy on diesel and aviation fuel can’t compensate; its aim is to keep the stuff at home by repricing our exports out of global markets, not revenue.
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