The Petrol Price in according to the new budject will be hiked by oovr 2.5 per litre and diesel by more than 2.3 after Finance Minister Nirmala Sitharaman on Friday raised taxes on the fuels to part-fund her Budget for 2019-20.
It has been asserted that the Union Finance Minister raised the excise duty and road and infrastructure cess on the auto fuels by Rs 2 per litre
On Friday, a litre of petrol costs Rs 70.51 in Delhi and Rs 76.15 in Mumbai. Diesel is priced at Rs 64.33 a litre in Delhi and Rs 67.40 per litre in Mumbai.
The finance minister has levied Re 1 per tonne customs or import duty on crude oil. India imports more than 220 million tonnes of crude oil; and the new duty will give the government Rs 22 crore additionally.
“Crude prices have softened from their highs. This gives me a room to review excise duty and cess on petrol and diesel. I propose to increase Special Additional Excise duty and Road and Infrastructure Cess each by Rs two a litre on petrol and diesel,” she asserted in her budject speech.
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