The Indian government reduced central excise duty on petrol and diesel by 10 rupees per liter to shield citizens and businesses from rising global crude prices, resulting in an estimated revenue impact of over 1 lakh crore rupees in 2026-27, demonstrating how governments bear fiscal burdens to protect consumers from economic pressures.
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FM Sitharaman: Govt Estimates Revenue Impact Of Over Rs 1 Lakh Crore In 2026Added:
So, to shield citizens, therefore, and businesses from the steep rise in global crude prices, central excise duty on petrol and diesel was reduced by 10 rupees per liter.
The government is estimated to take a revenue impact of over 1 lakh crore on this one score in the year 2026-27 because of this one decision.
So, the burden for a considerable period because of that reduction in excise duty had been taken away from the shoulders of the common people because government has foregone or taken the burden of 1 lakh crore rupees on its shoulders.
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