The Cabinet Committee on Economic Affairs raised the price of ethanol extracted from sugarcane juice to Rs 63.45 per litre from the current Rs 62.65 per litre.
The price of petrol in Delhi rose to its highest-ever level of Rs 109.34 per litre and Rs 115.15 per litre in Mumbai, and crossed past the Rs 120 mark in parts of Madhya Pradesh.
Referring to the issuance of oil bonds during the UPA tenure, FM Nirmala Sitharaman said the Modi government is paying for the fuel price reductions done by the previous govt.
In an interview to ThePrint, CEA Krishnamurthy Subramanian explains reasons behind the govt opting to reduce taxes on imported food items like edible oil but not on petrol or diesel.
Petrol prices have breached the Rs 100-per-litre mark in over half a dozen states and union territories, while diesel is being sold at over Rs 100/litre in Odisha and Rajasthan.
Standing up to America is usually not a personal risk for a leader in India. Any suggestions of foreign pressure unites India behind who they see as leading them in that fight.
COMMENTS