Finance Minister Nirmala Sitharaman announced that reducing excise duties on petrol and diesel will lead to a ₹1 lakh crore revenue shortfall for the government.
OMCs have raised fuel prices for the fourth time in 10 days
May 25, 2026
04:30 pm
What's the storyFinance Minister Nirmala Sitharaman has said that cutting excise duties on petrol and diesel will cost the government ₹1 lakh crore in revenue.
The announcement was made at a recent event in Mumbai where Sitharaman defended India's economic growth and countered what she called a deliberately pessimistic narrative around it.
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