Centre hikes duty on petrol, diesel by Rs 3
- IndiaGlitz, [Saturday,March 14 2020]
At a time when global crude oil prices are falling down, the Government of India has raised excise duty on both petrol and diesel by Rs 3 per litre. Special additional excise duty on fuel stands increased by Rs 2 per litre, whereas the road, infra cess by Rs 1 per litre, a report says.
The hike proves that the Centre is in no mood of passing the benefits of fall in crude oil prices to the customers, as a journalist has put it.
What is the government's rationale?
The NDA sarkar wants to rake in as much money as possible so as to fund infrastructure activities, etc. With global crude rates crashing, India will save billions and billions of dollars on imports. If planned properly, the Coronavirus-caused fall in crude prices can be put to the advantage of the economy.