News of Bahrain
Business7 February 20181 min read

India sees no scope for duty cut

New Delhi : India has no immediate plan to further cut factory gate tax on petrol and diesel due to its tight fiscal situation, a finance ministry source said on Tuesday. India had cut factory gate tax on the two fuels by 2 rupees ($0.0311) a litre each last week while presenting

Editorial Team Legacy

Published 7 February 2018, 8:00 · Updated 21:28

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India sees no scope for duty cut

New Delhi : India has no immediate plan to further cut factory gate tax on petrol and diesel due to its tight fiscal situation, a finance ministry source said on Tuesday. India had cut factory gate tax on the two fuels by 2 rupees ($0.0311) a litre each last week while presenting the federal budget, but it did not result in lower retail prices as new taxes were added.

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