Latest Exchequer News & Updates

SAED Cut on Petrol and Diesel Costs Central Exchequer Rs 30,000 Crore

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New Delhi, May 23 (IANS) The special additional excise duty (SAED) cut on petrol and diesel on March 27, 2026 resulted in approximately Rs 30,000 crore cost for the central exchequer in the current fiscal year, and the pass-through of higher crude was not made to the consumer; it was absorbed by the exchequer.Amid the Strait of Hormuz disruption, the SAED cut reduced petrol excise to three rupees a litre and took diesel excise to zero.The Congress argues that petrol cost roughly Rs 71 a litre in…