Delayed oil price hike costs Modi govt Rs 14000 crore monthly after excise cut

The govt chose support for OMCs at big monthly cost

Amid the West Asia crisis, India’s oil marketing companies have not fully passed oil price increases to consumers. To cushion them, the central government slashed excise rates, creating a sharp revenue hit. Reports say this decision is pressuring the government’s finances by roughly Rs 14,000 crore every month, even as OMCs remain focused on affordability.