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Will not cut excise duty on fuels due to less revenue income, says finance minister

Will not cut excise duty on fuels due to less revenue income, says finance minister

Minister for Finance Thomas Issac on Wednesday said that the excise duty on fuel prices can not be withdrawn due to the decrease in the income from the taxes. The minister told the assembly that the exchequer could not afford the excess weight. Meanwhile, the Opposition alleged that both central and state governments are united in looting people.

The Opposition had issued a notice to the state legislative body, pointing out that the state government's stand on the issue of petrol and diesel price hike would be a problem for the people. However, the Finance Minister had taken the view that the tax revenue in the State could not be abandoned due to increase in fuel prices. The same stand was taken during the UDF regime. Finance Minister said that the policies of the BJP government are the reason behind the increase in the prices of fuel.

He was replying to an emergency notice issued by the opposition demanding the elimination of fuel tariff in the wake of price hike. Thiruvanchoor Radhakrishnan also alleged that the diesel price was the highest in the state. The LDF did not want to show mercy to the people even as the price rise was 59 times higher than it was before. Thiruvanchoor also said that the UDF government had set aside the additional tax revenue of Rs 619.17 crore. The Opposition walked out of the legislative assembly for not discussing the matter.