States should Cut Duty on Petrol: NITI Aayog
GUWAHATI : States have the capacity and must reduce the duty on petrol, while the centre should create fiscal space to deal with the impact of spurt in oil prices, NITI Aayog Vice Chairman Rajiv Kumar said today.
The rising crude prices in the international market prompted state-owned oil companies to raise domestic prices for 11th day in a row.
The price of petrol touched a new high in Guwahati at Rs 79.66 per litre, irking customers here.
With regards to the Centre, Rajiv Kumar said they have the fiscal space and need to create more to deal with the problem of rising oil prices.
The centre levies Rs. 19.48 as excise duty on a litre of petrol.
File photo of a Petrol Pump