Amid Sky-high Petrol and Diesel Rates, Report Says Cutting Oil Taxes Will Boost Demand, Support Eco Revival

Petrol, which has a tax incidence of 60 per cent of the MRP, has crossed Rs 100 a litre in many parts of the country, while diesel, which has taxes to the tune of 54 per cent of the retail price, has crossed Rs 90. The domestic oil prices are the highest in Southeast Asia because both the Centre and states use taxes on oil as the easiest way to shore up their revenues.

from Top Business News- News18.com https://ift.tt/3urwuXi
via IFTTT