Posted by 
Prices of petrol and diesel are increasing steadily. Due to the continuous rise in crude oil prices internationally, the price of petrol has also crossed the 80 mark. In such a way, Finance Minister Arun Jaitley can give you relief from rising prices of petrol and diesel in the budget today. For this, he can make an important announcement.
Can give such relief
The Oil Ministry has suggested Finance Minister Arun Jaitley to reduce the excise duty on petrol and diesel. If the finance minister considers this suggestion, then you can get great relief from the rising prices of petrol and diesel. However, this decision will not be easy for the government. There is also a big question of lack of revenue in front of him.
Risk of growing fiscal deficit
Now, taking such a step will mean that the government will pose a risk of increasing its fiscal deficit . The reduction in excise duty will make it difficult for the government to achieve fiscal deficit by 3.2%. This will put new challenges on the economy front.
On the other hand, oil companies are less likely to get relief on this front. Internationally, crude oil prices are increasing steadily. Because of this, the expenses of companies are increasingly increasing.
In such a situation, it is also difficult to get relief from petrol and diesel prices on behalf of these companies. However, given the suggestion of the oil ministry, there is still hope that Finance Minister Arun Jaitley will definitely make some provisions to relieve the rising prices of petrol and diesel in the budget.
Source by:- intoday
Share: