RBI Guv Calls For Centre-State Coordination To Bring Down Fuel Prices

RBI Governor Shaktikanta Das | File Photo

Mumbai- Reserve Bank of India (RBI) Governor Shaktikanta Das on Thursday said there is a need for coordinated action between the centre and state governments to reduce taxes on petrol and diesel prices.

There is a need for coordinated action between the centre and states because there are inherent taxes levied by both, the Governor said adding that calibrated reduction of taxes was important.

He was speaking at an event organised by Bombay Chamber of Commerce.

He, however, said both the centre and the state governments have their revenue pressures and they are required to spend high sums of money to enable the country and the people to come out of the COVID-19 pandemic stress.

So the revenue requirement and the compulsion of the governments are fully understood. But having said that, the impact on inflation also is something which comes in from of the fact that petrol and diesel prices do have an impact on the cost of manufacturing, production , the governor said.

On the central bank’s digital currency, Das said a lot of work is going on internally in the RBI and some broad guidelines and approach papers will be released on it soon.

The governor said RBI has certain concerns on cryptocurrencies and it has already been communicated to the government.


Follow this link to join our WhatsApp group: Join Now

Be Part of Quality Journalism

Quality journalism takes a lot of time, money and hard work to produce and despite all the hardships we still do it. Our reporters and editors are working overtime in Kashmir and beyond to cover what you care about, break big stories, and expose injustices that can change lives. Today more people are reading Kashmir Observer than ever, but only a handful are paying while advertising revenues are falling fast.



Leave a Reply

Your email address will not be published.