If you were thinking that the government would be alarmed by rising fuel prices and would do something to control it, you were asking for too much. The government is in no mood to provide any relief to you. It only wants state governments to cut sales tax or Value Added Tax (VAT) on fuel, a senior official said on Monday.
Petrol price today hit a 55-month high of Rs 74.50 a litre, while diesel rates touched a record Rs 65.75, renewing calls for a cut in excise duty to ease the burden on consumers.
The finance ministry official said however that a reduction in excise duty, which makes up for a quarter of retail fuel price, is not advisable if the government is to stick to the path of reducing budgetary deficit.Click Here: United Kingdom Rugby Jerseys