While petrol and diesel continue to sell at all-time high prices, Union Finance Minister Nirmala Sitharaman said on Thursday that she won't be able to answer when the fuel rates will be reduced. As per a report by news agency ANI, she was asked about when the Centre will reduce fuel prices during an event in Ahmedabad. You have an excise duty of the Centre, then you have the Value Added Tax (VAT) of the states. There is revenue consideration, both by the centre and state and that is why I strongly believe it's no longer competitive," she added. Also read As fuel prices cross Rs 100 per litre, Petroleum Minister explains the reason behind surgeThe Finance Minister reiterated that the only way to find a solution to this problem is that the "Centre and states should hold a dialogue."

Source: dna February 26, 2021 02:15 UTC