Govt hikes excise duty on petrol and diesel to fund infrastructure development

Basic excise duty on petrol and diesel hiked by Rs 2 per liter each effective from 2 January 2015

In order to fund the ambitious infrastructure development programme of the Government, particularly the building of 15000 kms of roads, during current and next financial year, the Government has decided to increase basic excise duty on petrol and diesel (both branded and unbranded) by Rs. 2 per litre. Allocation of these resources to the road sector will also spur economic activity and employment generation arising from the road construction sector.

These increased rates of basic excise duty will be effective from 2 January 2015. There will be no change in other excise duty rates applicable to these commodities.

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