Moody's talks up doom and gloom on India over this possible step; here is what it said

Rating agency Moody's has sounded a note of caution that any reduction in excise duty on petrol and diesel would adversely affect fiscal deficit unless it is matched by a commensurate cut in expenditure

Moody's talks up doom and gloom on India
Pressure has been mounting on the government to cut excise duty on petrol and diesel to bring down their prices which have gone up following a spike in crude prices in the international market. Image source: Reuters

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