The government’s move to hike the special excise duty and the road and infrastructure cess by Re 1 per litre each in the Budget is likely to marginally lift their revenue without much impact on Consumer Price Index (CPI) and Wholesale Price Index (WPI) inflations.
Finance minister Nirmala Sitharaman’s decision increases the special excise duty component in the price of branded and unbranded petrol to Rs 8 per litre from the earlier Rs 7. For branded and unbranded diesel, it moves up to Rs 2 per litre from Re 1.
At the same time, the road and infrastructure cess component in these categories are up to Rs 9 per litre from Rs 8 per litre. Read More
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