Choice for government: Fuel tax cut or inflation?

Revenue receipts from Union excise duties have proved to be the silver lining in the 2021-22 Budget, as far as central taxes are concerned. Not only does the government hope to collect, as per Revised Estimates (RE), more than what its Budget Estimates (BE) projected in 2020-21, the 202122 (BE) numbers project union excise duties to be the only tax head where 2021-22 (BE) numbers are greater than 2020-21 (BE) numbers. To be sure, 2021-22 (BE) collections are expected to be lower than 2020-21 (RE) collections on this head. Oil minister Dharmendra Pradhan on Wednesday ruled out any cut in excise duty. His remark came on a day the price of petrol rose to an all-time high of ₹87.60 a litre in Delhi. The diesel rate rose to ₹77.73 per litre in the city.

NEW DELHI: The US has expressed concern at China’s attempts to “intimidate its neighbours” against the backdrop of the India-china border standoff, and said it will stand with friends and partners to advance security and prosperity across the Indo-pacific.

US state department Ned Price made the remarks at a briefing in response to a question on the Biden administration’s position on China’s efforts to encroach on India’s territory.

The US views India as “one of the most important partners in the Indo-pacific”, and welcomes

India’s emergence as a “leading global power and its role as a net security provider in the region”, Price said. Price said the US is closely monitoring the Indiachina standoff. “We are concerned by Beijing’s pattern of ongoing attempts to intimidate its neighbours,” he said.