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

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 oil.

According to a notification by the Central Board of Excise and Customs, the excise duty on petrol has been raised to Rs 9.48 per litre from Rs 8.48 per litre and that on diesel has been hiked to Rs 11.33 per litre from Rs 9.83 per litre.

To stay at the cutting edge of automotive news in India, follow us on Twitter (@odmag) or on Facebook ( Or download our app from the iOS or Android app stores today

Updated Date: Jan 30, 2016 22:05 PM

Also Watch

IPL 2018: Royal Challengers Bangalore eye revival against Chennai Super Kings as 'Cauvery Derby' comes back to life
  • Thursday, April 26, 2018 In the Kanjarbhat community, a campaign against 'virginity tests' is slowly gaining ground
  • Tuesday, April 24, 2018 It's A Wrap: Beyond the Clouds stars Ishaan Khatter, Malavika Mohanan in conversation with Parul Sharma
  • Monday, April 9, 2018 48 hours with Huawei P20 Pro: Triple camera offering is set to redefine smartphone imaging
  • Monday, April 16, 2018 Rajyavardhan Singh Rathore interview: Sports can't be anyone's fiefdom, we need an ecosystem to nurture raw talent

Also See