scorecardresearchFuel Excise Cut: Govt may cut revenue spend, borrow more to keep fiscal math, report says

Fuel Excise Cut: Govt may cut revenue spend, borrow more to keep fiscal math, report says

Updated: 23 May 2022, 09:16 AM IST
TL;DR.
  • To tame inflation, the Finance Minister of India on May 21 announced the cut on excise duty on petrol and diesel by 8 and 6 per liter, respectively.
In April the government announced a fertilizer subsidy hike and now this reduction of duties on petrol, diesel and imported inputs to make steel and petrochemicals will mean the gross market borrowing of  <span class='webrupee'>₹</span>14.3 trillion budgeted for FY23 won’t be enough for the year. (ANI Photo)

In April the government announced a fertilizer subsidy hike and now this reduction of duties on petrol, diesel and imported inputs to make steel and petrochemicals will mean the gross market borrowing of 14.3 trillion budgeted for FY23 won’t be enough for the year. (ANI Photo)