The Budget presented on July 5 by Finace Minister Nirmala Sitharaman can result in an increase of more than Rs. 2/litre in petrol and diesel prices. This increase might happen by midnight of July 5. Tiranga TV analysed the budget provisions and found that it proposed an increase in both the Special Additional Excise Duty and Road and Infrastrcuture Cess, each by Re.1/litre. Import duty on crude oil will also be hiked. This increase might result in an increase in inflation. Reacting to a question about inflation connected to fuel price hike, Sitharaman said that inflation has been at its lowest under the current government.
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