Union finance minister Nirmala Sitharaman on Monday said that reducing excise duties on petrol and diesel would lead to a revenue loss of around Rs 1 lakh crore. She also stressed the need to give confidence to people and that “India cannot afford fear mongering.”

Union finance minister Nirmala Sitharaman on Monday said that reducing excise duties on petrol and diesel would lead to a revenue loss of around Rs 1 lakh crore. She also stressed…

State-owned fuel retailers in India are losing ₹600 crore daily, with government revenue impacted by ₹14,000 crore monthly due to duty cuts.