Hyderabad: Even as petrol stations across the state observed a no-purchase day from oil companies on Tuesday, to protest losses caused by the Centre's reduction in excise duty, records reveal the Telangana government too lost more than ₹1,098 crore in revenue due to it. The loss in the state is, in fact, among the highest in the country.
In the face of rising inflation, the Union government recently reduced the excise duty on petrol by ₹8 per litre and on diesel by ₹6 per litre. The Centre's change in excise duty had an immediate impact on states, as majority of them levy ad-valorem VAT on diesel and gasoline.
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