Business Today
Loading...

Excise on petrol, diesel hiked Rs 10, Rs 13 per litre; no impact on consumer

The revenue generated from these duties shall be used for infrastructure and other developmental items of expenditure

twitter-logo BusinessToday.In   New Delhi     Last Updated: May 6, 2020  | 00:09 IST
Excise on petrol, diesel hiked Rs 10, Rs 13 per litre; no impact on consumer
These duty rate changes shall come into effect from May 6

The Central Government has increased excise duty on petrol by Rs 10 per litre and diesel by Rs 13 per litre to tackle the economic fallout due to the coronavirus outbreak. Retail sale prices of petrol and diesel will, however, not change on account of this increase in duties. Therefore, it will have no impact on the consumer.

Government, on May 5, raised the road and infrastructure cess on both petrol and diesel by Rs 8 per litre. These duty rate changes shall come into effect from May 6.

Special additional excise duty on petrol has been increased by Rs 2 per litre and on diesel by Rs 5 per litre.

The revenue generated from these duties shall be used for infrastructure and other developmental items of expenditure.

Also Read: Coronavirus lockdown 3.0: India sees biggest jump with 3,900 new cases, 195 deaths in 24 hours

Also Read: Indian retail sector lost Rs 5.5 lakh crore in 40 days of lockdown: CAIT

Also Read: IPO not necessary, Jio Platforms eyes Rs 1.4 lakh crore strategic investment

Youtube
  • Print

  • COMMENT
BT-Story-Page-B.gif
A    A   A
close