Opinion: Opinion | Rs 1 Lakh Crore Gone, And Counting: Worse May Be Coming For India's Oil Shock
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Legislative action — a bill, act, or amendment that creates or modifies the legal framework. Carries binding force and shapes the rules under which citizens, institutions, and markets operate.
Summary
Cuts in central excise on petrol and diesel cost the Centre roughly $1.18 billion a month in forgone revenue.
Key Facts
Type Legislation
Source NDTV - India
Published Monday, 8 June 2026
Affected Population 1.4 billion citizens, 63 million MSMEs
Key Numbers
GDP: $3.9 trillion (2025 est.)
Fiscal deficit target: 4.4% of GDP
GST collection: Rs 1.87 lakh crore/month avg
PM-JAY: 55 crore beneficiaries
Key Authorities
Key Stakeholders
Government Context
NDA III BJP-led NDA
Left Centre Right