Government ​​​​​​​increases excise duty on petrol by Rs 3 per litre

WION Web Team
New Delhi Updated: Mar 14, 2020, 11:23 AM(IST)

File photo Photograph:( ANI )

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The excise duty on the fuels was hiked by 3 rupees per litre, the government said in a gazette notification.

The government on Saturday increased excise duty on petrol and diesel in an attempt to increase revenue at a time when tax collections have fallen amid the weakest economic growth in over six years.

The excise duty on the fuels was hiked by 3 rupees per litre, the government said in a gazette notification.

Special excise duty on petrol was hiked by ₹2 to ₹8 per litre and ₹4 in the case of diesel, an official notification said.

Additionally, road cess on petrol was raised by ₹1 per litre each on petrol and diesel to ₹10.

The rise is expected to increase revenue by up to 400 billion Indian rupees ($5.42 billion), a senior government official told.

Taxes on petrol and diesel, which account for more than a third of retail fuel prices, are one of the biggest sources of income for the government.

(With inputs from agencies) 

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