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.

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.