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India takes a ‘huge hit’ on tax revenue to keep fuel prices from surging during the Iran war

India takes a huge tax revenue hit as it cuts fuel excise duties to shield consumers from soaring oil prices caused by the Iran war.

1 report1 sourceMar 27, 2026, 8:44 AM
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CNBCMar 27, 2026, 8:44 AM

India takes a ‘huge hit’ on tax revenue to keep fuel prices from surging during the Iran war

India takes a huge tax revenue hit as it cuts fuel excise duties to shield consumers from soaring oil prices caused by the Iran war.

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