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Yes, petrol and diesel taxes are steep. No, don't cut them
India's middle class, supported by many opposition parties, wants a cut in fuel taxes to stem the sharp rise in petrol and diesel prices. Cutting fuel taxes will encourage the consumption of petroleum products, increasing carbon emissions that warm the globe. Instead, the logical way forward is a high tax on all forms of carbon, making this revenue-neutral by cutting taxes on other items. India is levying an exceptionally high tax on the carbon in oil products, and compensating with lower taxes on other items.
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