How State budgets will fare if petrol, diesel are brought under GST

At the time of writing, petrol was retailing at Rs.82.48/litre in  Mumbai,  roughly 62% more than the Rs.50.8/litre Pakistanis shell out for a tank of gas. This is despite the fact that crude oil prices are now way lower than the $100 per barrel rate around which it was hovering in 2014. Extraneous factors like the production cuts enforced by the Organization of the Petroleum Exporting C…