Government cuts excise duty on petrol, diesel by Rs 2
Petrol-diesel excise duty
The government on Tuesday cut excise duty on?petrol?and?diesel?by two rupees a litre to protect retail consumers from higher global crude oil prices
The government on Tuesday cut excise duty onpetrolanddieselby two rupees a litre to protect retail consumers from higher global crude oil prices.
The cut in thepetrolanddieselduties will cost $1.99 billionover the next six months, the finance ministry said in a message on Twitter.
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Since August 1, retail prices forpetrolhave gone up 8.4 per cent anddieselby 6.4 per cent in New Delhi.
"The cut in excise duty has modestly increased the likelihood of fiscal slippage this year," Aditi Nayar, an economist at ICRA, the India arm of credit rating agency Moody's told Reuters.
Petrol Price
Earlier | Now
Delhi - 70.81 | 68.81
Mumbai - 79.92 | 77.92
Kolkata - 73.55 | 71.55
Chennai - 73.41 | 71.41
Bengaluru - 71.95 | 69.95
*All price in Rs/Ltr
Diesel Price
Earlier | Now
Delhi - 59.08 | 57.08
Mumbai - 62.76 | 60.76
Kolkata - 61.74 | 59.74
Chennai - 62.23 | 60.23
Bengaluru - 59.22 | 57.22