The Ecowrap report, authored by Dr Soumya Kanti Ghosh, Group Chief Economic Adviser, State Bank of India stated that Centre and states do not want to bring oil products under the GST regime as sales tax and VAT comprise a major source of tax revenue

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\"We estimate excise duty on auto fuels in FY22 (April 2021 to March 2022), if it is not cut, at Rs. 4.35 lakh crore versus budget estimate of Rs. 3.2 lakh crore, ICICI Securities said in a note

A V-shaped recovery in crude prices and heavy taxes have pushed petrol prices beyond Rs 100 per litre in many cities of Rajasthan and Madhya Pradesh

The Ministry of Finance is considering cutting excise duties on petrol and diesel to cushion the impact of record-high domestic prices, three government officials close to the discussions said. As the coronavirus pandemic hit economic activity, Prime Minister Narendra Modi's government  raised taxes twice on petrol and diesel in the last 12 months to boost sagging tax revenues instead of passing on the benefits of low oil prices last year to consumers. Watch the video for more.Also Read: ATF price up by steep 6.5%; petrol, diesel unchanged

This is the third increase in jet fuel prices since February. Rates were increased by 3.6 per cent on February 16, and by Rs 3,246.75 per kl on February 1

Currently, the price of one litre of petrol stands at Rs 91.17 per litre in Delhi, and diesel rates stand at Rs 8.47 per litre. In Mumbai, the price of petrol is Rs 97.57 per litre, and that of a litre of diesel is Rs 88.60 per litre

Fuel prices have been rising steadily since February 9. In the 14 increases since then, petrol and diesel rates have gone up by Rs 4.88 per litre and diesel by Rs 4.81 per litre in Delhi

A number of carmakers including market leader Maruti Suzuki, Renault-Nissan, Volvo Cars and the entire Volkswagen Group that comprises its three brands -- Volkswagen, Skoda and Audi, decided to stop selling diesel models in the country

There is a need for coordinated action between centre and states to reduce taxes because there are indirect taxes levied both of them, says RBI Governor Shaktikanta Das

In India, petrol and diesel prices are revised by state-backed oil marketing companies (OMCs) like Indian Oil, Bharat Petroleum and Hindustan Petroleum

Fuel prices in India: Petrol is inching closer towards the Rs 100 mark in Mumbai

Taxes levied by the Centre and states constitute more than half of petrol and diesel prices, accounting for 60 per cent of the retail cost of the former and 54 per cent of the latter

All India Kisan Sabha floats alternate model farm law for states; Centre likely to consider Oriental Insurance or United India for privatisation; US COVID-19 death toll reaches 500,000, highest since 1918 influenza pandemic. Watch this and more news on News Blast.Also Read: SC halts Future Retail deal with Reliance after Amazon plea

Tata has also announced a new 'Adventure Persona' trim, which is placed at the very top of the line at Rs 20.20 lakh (ex-showroom) for manual and Rs 21.45 lakh (ex-showroom) for the automatic version

Centre has refused to cut excise duty despite unprecedented rise in fuel prices in past two months. In February, petrol prices have gone up by Rs 4.29 per litre and diesel by Rs 4.31 per litre in Delhi alone

Sonia Gandhi said that the central government has unreasonably levied excise duty on petrol and diesel by Rs 33 and Rs 32, respectively, which is higher than the base price of these fuels

Petrol and diesel in Delhi remained constant at Rs 90.58 and Rs 80.97 a litre, respectively, while they stayed at Rs 97 and Rs 88.60 per litre in Mumbai

In a letter written by the Directorate of Education (DOE), the Delhi government has ordered schools in the national capital to grant age relaxation of up to 30 days at the level of the heads of the school in both the minimum and maximum age limit

A Delhi government agency, Delhi Transco Limited, has initiated the process to set up 100 charging stations and all power infrastructure costs will be borne by the state government