The federal government, late on Tuesday, elevated taxes and duties on petrol and diesel as a substitute of passing on the advantage of decrease crude oil costs to customers, because it strikes to boost revenues in an economic system that floor to a halt within the coronavirus disaster.
Taxes and duties on petrol and diesel had been elevated by Rs 10/litre and Rs 13/litre respectively, however the authorities mentioned in an announcement that native pump costs wouldn’t be affected.
India pegs retail costs of petrol and diesel to strikes within the worldwide markets, the place costs of gasoline have declined considerably amid the droop in international crude oil demand.
Some state governments earlier on Tuesday sharply raised taxes on alcohol in a bid to bolster their very own coffers which have additionally taken successful amid the nationwide lockdown that started on March 25.
India reported greater than 3,900 new infections of the novel coronavirus on Tuesday marking its highest single day enhance in instances, and taking its tally to 46,711. The demise toll in India stood at 1,583 folks, the well being ministry mentioned.
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