Indian government revenue expected to take Rs 1 lakh crore hit due to tax cuts on petrol and diesel
Image Credit: Gustavo Fring
The Indian government revenue is expected to take Rs 1 lakh crore hit from tax cuts on petrol and diesel and the additional gas subsidy announced on Saturday. According to a Bloomberg report, India will probably borrow the entire Rs 1 lakh crore ($12.9 billion) that the government will forgo in its political gambit to tame inflation.