Government raises excise duty by Rs 1 per litre on petrol and by Rs 1.5 per litre on diesel - Firstpost
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Government raises excise duty by Rs 1 per litre on petrol and by Rs 1.5 per litre on diesel

#automonitor   #excise duty   #Fuel price   #Government of India  


In order to make sure the financial deficit is met for the year 2015-16, the Indian government has raised excise duty on petrol by Rs 1 per litre and on diesel by Rs 1.5 per litre. This is the third time that the government has hiked the excise duty in a month.

The rise in excise duty will help the government acquire an additional Rs 14,000 crore which is needed to make up for the shortage of direct tax collections among other reasons. Importantly, the rise in excise duty on fuels will not affect the current petrol and diesel prices as the international oil prices have reported a drop owing to more production than the actual demand of ...

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First Published On : Jan 30, 2016 22:05 IST

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