Government hikes excise duty on petrol and diesel

The government has hiked the excise duty on petrol by 75 paise a litre and on diesel by two rupees per litre. Excise duty hike on petrol and diesel to yield additional 3,700 crore rupees to government during remainder of current fiscal. An official in the Finance Ministry said, it will have no impact on the retail-selling price of petrol and diesel. 

This is the second increase in duties in less than two



weeks. Basic excise duty on unbranded or normal petrol has been increased from 7 rupees 73 paise to 8 rupees 48 paise and on unbranded diesel it has been increased from 7 rupees 83 paise to 9 rupees 83 paise per litre. 

The basic excise duty on branded petrol has been raised from 8 rupees 91 paise to 9 rupees 66 and the same on branded diesel from 10 rupees 19 paise to 12 rupees 19 paise a litre.