scorecardresearch
Petroleum sector contributes Rs 3,49,923 cr to the exchequer in Apr-Sep 2021

Petroleum sector contributes Rs 3,49,923 cr to the exchequer in Apr-Sep 2021

Last year the union received 68 per cent of the petroleum sector's total contribution of Rs 6,72,719 crore to the exchequer, with the state's share at 32 per cent.

Total excise duty on petrol was Rs 19.98 per litre in 2019 and Rs 15.83 a litre on diesel. The government raised excise duty twice last year to Rs 32.98 per litre on petrol and Rs 31.83 on diesel. Total excise duty on petrol was Rs 19.98 per litre in 2019 and Rs 15.83 a litre on diesel. The government raised excise duty twice last year to Rs 32.98 per litre on petrol and Rs 31.83 on diesel.

India's petroleum sector contributed Rs 3,49,923 crore to the exchequer from April-September 2021 with the centre's share at 62 per cent. The state exchequer received 38 per cent of the amount, the government informed Rajya Sabha.

Last year the union received 68 per cent of the petroleum sector's total contribution of Rs 6,72,719 crore to the exchequer, with the state's share at 32 per cent.

In 2019 and 2020, the centre and the state exchequer each took 60 per cent and 40 per cent of the total amount paid by the oil and gas companies that were Rs 5,57,632 crore and Rs 5,55,370 crore, respectively.

Further, the government said in the Rajya Sabha that the central government's collection from excise duty levied on petrol and diesel more than doubled to Rs 3.72 lakh crore in 2020-21, out of which states were given less than Rs 20,000 crore.

Collection from levy of central excise duty on petrol and diesel increased from Rs 1.78 lakh crore in 2019-20 to Rs 3.72 lakh crore in April 2020 -March 2021. The increase in the collection was mainly on account of rise in the incidence of taxation on fuels.

Total excise duty on petrol was Rs 19.98 per litre in 2019 and Rs 15.83 a litre on diesel. The government raised excise duty twice last year to Rs 32.98 per litre on petrol and Rs 31.83 on diesel.

The total amount of tax devolved to state governments from the corpus collected under the central excise duty in 2020-21 was Rs 19,972 crore.