Basic excise duty of petrol, diesel increased by Rs two
The Centre on Thursday increased the basic excise duty on petrol and diesel by Rs two per litre in order to fund the infrastructure development programme of the government, particularly the particularly the building of 15,000 kilometres of roads.
The increased rates of basic excise duty will be effective from January 1 midnight. However, the retail price of both petrol and diesel will remain unchanged.
Minister of State (Independent Charge) for Petroleum and Natural Gas Dharmendra Pradhan took to twitter to share the news.