Duty cut on fuel has put Modi government in a corner
GDP growth slipped to 5.7 per cent in the first quarter, the lowest in three years. The government reported a fiscal deficit of 96.1 per cent of the target for the current fiscal year. Add to that the problems with Goods and
Due to the government's weak financial position,
With the overall pessimism in economy, by cutting fuel duties the government has further restricted itself. It seems the government has taken this step due to political compulsions as people had begun feeling the pinch of rising fuel prices. Petrol and diesel prices have hit three-year highs in some cities.
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