Excise duty on petrol, diesel raised

Excise duty on petrol, diesel raised

The government on Tuesday raised excise duties on petrol by Rs 2.25 per litre and on diesel by Rs 1 per litre with immediate effect, the finance ministry said.

The ministry clarified that retail rates will not be increased as oil firms decided to absorb the duty change for the time being. Excise duty on normal or unbranded petrol has been hiked from Rs 2.70 to Rs 4.95 a litre and on unbranded diesel from Rs 2.96 a litre to Rs 3.96.

Together with the excise duty hike effected from November 12, the latest measures will help the government mop up about Rs 10,000 crore in the remainder of current fiscal, that will help contain budget deficit.

Narendra Modi or Rahul Gandhi? Who will win the battle royale of the Lok Sabha Elections 2019


Get real-time news updates, views and analysis on Lok Sabha Elections 2019 on Deccanherald.com/news/lok-sabha-elections-2019 


Like us on Facebook or follow us on Twitter and Instagram with #DHPoliticalTheatre for live updates on the Indian general elections 2019.

Liked the story?

  • 0

    Happy
  • 0

    Amused
  • 0

    Sad
  • 0

    Frustrated
  • 0

    Angry