FinMin for export pricing of fuel to save subsidy bill
Amitav Ranjan: New Delhi, Jan 16 2013, 01:14 IST
of Rs 1.11 per litre on the ex-refinery price of diesel but translates into an expense of Rs 8,800 crore on under-recoveries.
The situation is not the same in the case of petrol, where the customs duty impact of Rs 1.03 per litre is passed on to the consumers and so does not add to under-recoveries.
FOR RECOVERY
* Finance ministry plans to remove import tax on petrol and diesel since it adds to under-recoveries of oil marketing firms without bringing any revenue
* Instead, the ministry plans to move to an export parity pricing regime, which would lower the fuel subsidy burden
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