According to the official, the bill could go up by at least Rs 50 crore if the oil prices jump 10 per cent from $60 per barrel level on a sustained basis.
Spending hefty amounts out of pocket at one go may not be possible for everyone and hence many people depend on credit to meet the festive shopping demand, thereby delaying the payment process.
PPF Trick: The sovereign guarantee that PPF enjoys on both the principal invested and interest earned is the clincher while the interest income also remains tax free.
Meanwhile, in another tweet, the minister said an additional 15 per cent depreciation will be allowed on motor vehicles purchased between August 23, 2019, and March 31, 2020.
