OIL & GAS

Reduction in taxes on fuel to ease inflationary pressure: RBI guv

Reduction in Central excise as well as state VAT on petrol and diesel is expected to ease domestic inflationary pressure, RBI Governor Shaktikanta Das said on Wednesday.

In a virtual address post the monetary policy meet, the RBI Governor Das said that

headline CPI inflation ticked up in October to 4.5 per cent from 4.3 per cent in September, after falling sharply between June and September.
This uptick, he said mainly reflected a spike in vegetable prices due to unseasonal rains in some parts of the country.

Besides, Das cited hardening of international energy prices that have kept domestic LPG and kerosene prices elevated for nearly three quarters, edging up fuel inflation to 14.3 per cent in October.

Source
Economic times
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