India Hikes Excise Duties on Petrol By ₹225 Diesel By ₹1

first_imgIndia on Tuesday raised excise duties on petrol by ₹ 2.25 ₹per litre and on diesel by ₹1 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  ($650 million) in the remainder of the fiscal year to the end of March 2015.last_img

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