Centre can cut fuel cess by ₹4.5 per litre without revenue loss: ICRA
The Hindu
Reducing record fuel prices will ease inflation pressures, boost disposable incomes and consumption, says the rating agency’s chief economist Aditi Nayar.
The Union Government has room to cut the Cess levies on Petrol and Diesel by ₹4.5 per litre without losing revenues, to ease inflationary pressures, rating agency ICRA said on Friday. Stressing that consumer sentiment had been singed by the second COVID-19 wave in the country, ICRA said that the record retail fuel prices are ‘weighing upon disposable incomes and consumption' and feeding into inflationary pressures. Retail inflation had crossed the central bank’s comfort zone at 6.3% in May.
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