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India cuts diesel export duties as trade deficit widens

The Indian government has more than halved levies on the export of diesel as the country reported its largest ever trade deficit in July.

Taxes have been reduced to five rupees (six cents) a liter, down from 11 rupees previously, in order to encourage shipments of the commodity. Bloomberg noted this marks the second time these taxes have been decreased since they were initially implemented on July 1st.

Source MIC

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