If domestic oil production meets 33 % of total demand and 67% is imported ,the Govt by pooling the domestic production priced at 25 $ per barrel and imports at 124 $ per barrel,keeping customs at zero %,excise at Re 1 per litre and State VAT at 4% for diesel and 12.5 % for petrol could have kept retail prices reasonable.This is the clarity the Left parties shd bring to the rebate.Both Centre and States will resist tax cuts as they have got used to higher level of spending.
