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The government has opted to ignore petroleum minister Dharmendra Pradhan’s plea to bring petrol and diesel within the ambit of goods and services tax (GST) and decided to put the plan on the backburner, arguing that the time is not ripe for the change. While most of the states were always reluctant, A TOI report suggests that even the finance ministry is not keen on the move as it will not lower the burden on consumers but will only complicate the GST regime. Pradhan had pushed the move to counter the impact of higher retail prices. On this edition of the big picture we analyse what impact will the rising fuel prices have on the economy?
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