6:13 pm - Friday March 29, 2024

India hikes excise duties on diesel, petrol

514 Viewed Gautam Comments Off on India hikes excise duties on diesel, petrol
Centre may go for partial rollback of bulk diesel prices : PS Vivek Rae
Centre may go for partial rollback of bulk diesel prices : PS Vivek Rae This has been done in the wake of increased international prices of gasoline and a spike in dealer commission, government and industry officials said. The revised cost of diesel from Friday midnight in Delhi would be Rs.53.76 per litre and Rs. 60.79 per litre in Mumbai. The dealers had asked for a hike in their commission on petrol and diesel by 48 paise/litre and 0.32 paisa/litre.

India on Tuesday raised excise duties on petrol by 2.25 rupees per litre and on diesel by 1 rupee per litre with immediate effect, the finance ministry said in a statement to parliament.

The increases, which follow similar hikes in mid-November, seek to take advantage of a slump in world oil prices to shore up government revenues without stoking inflation.

A source familiar with the matter said the latest measures were expected to raise an additional 40 billion rupees ($650 million) in the remainder of the fiscal year to the end of March 2015.

Don't miss the stories followIndiaVision India News & Information and let's be smart!
Loading...
0/5 - 0
You need login to vote.
Filed in

Alibaba founder Jack Ma in India; to meet Snapdeal’s Kunal Bahl

European Union May Lift Ban On Import of Indian Mangoes

Related posts