Business Standard
The government may announce more relief packages for vulnerable segments of the economy, including the MSME sector, to help them sustain and keep inflation under check in the domestic market if the West Asia crisis prolongs further, sources said. The government has announced a slew of measures, including cutting excise duty on petrol and diesel during the month and will not hesitate to announce more to shield the vulnerable sectors of the economy, sources said. The government slashed the excise duty on petrol to Rs 3 a litre and exempted diesel from the duty to protect consumers from the impact of rising global crude prices amid the ongoing war in the Middle East. Alongside, the government brought back duties on the export of diesel and aviation turbine fuel (ATF) to improve domestic availability. Global crude prices have risen by almost 50 per cent since the United States and Israel launched military strikes against Iran on February 28, triggering sweeping retaliation from ...
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