Local News, National News

Govt hikes excise duty on petrol by ₹10 per litre, diesel by ₹13 per litre

Central Government has increased excise duties by Rs 10 per litre on petrol and Rs 13 per litre on diesel.

Retail sale prices of petrol and diesel will, however, not change on account of this increase in duties.

These duty rate changes shall come into effect from 6th May, 2020.

The government Tuesday announced a Rs 13 a litre hike in excise duty on diesel and a Rs 10 a litre hike in excise duty on petrol in an attempt to shore up revenues as demand remains subdued due to the lockdown.

Finance Ministry officials said the hike in excise duty, which comes into effect Wednesday, will not result in an increase in retail prices for the consumers.

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