At a time when fuel prices are scaling new highs every day, official data from petroleum ministry shows that for every one rupee increase in petrol and diesel prices, states together earn an additional revenue of around Rs 10 billion and Rs 20 billion, respectively, on annualised basis.
With the base price of both fuels (before state tax gets applied) rising by at least Rs 5 per litre since April, it is widely perceived that states have earned wholesome additional petroleum revenues in the current financial year to date, with Maharashtra leading the pack owing to the highest effective state ...
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