India takes a ‘huge hit’ on tax revenue to keep fuel prices from surging during the Iran war
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Source: CNBC
Published: 2026-03-27 19:44 UTC+10:00
Section: General
Factuality Score: 100
Opinion Category: Neutral
Topics: Politics, Transport, Middle East, Military & Defence, Iran, Energy, India, Tax & Budget, World News, War & Conflict, Asia Pacific
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Snippet:
The Indian government's tax revenues have taken a "huge hit" after New Delhi slashed central excise duties on fuel for domestic consumption, Petroleum and Natural Gas Minister Hardeep Singh Puri said Friday.The Indian government late Thursday cut central excise duties on petrol and diesel for domestic consumption by 10 rupees ($0.11) per liter each, to keep pump prices from rising as the Iran war disrupts global energy supplies.
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