Top headlines: FM rules out fuel price cut; Aramco may invest $25 bn in RIL

Business Standard brings you the top headlines on Monday

FM Sitharaman rules out cut in excise duty on petrol, diesel, for now

Finance Minister Nirmala Sitharaman on Monday ruled out a cut in excise duty on petrol and diesel to ease rates that have touched all-time highs, saying payments in lieu of past subsidised fuel price pose limitations.

The previous Congress-led UPA government had issued bonds to state-owned oil companies to make up for the difference in the artificially suppressed retail selling price of fuel and the cost. These oil bonds and the interest thereon are being paid now. Read more

Aramco in advanced talks to buy