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Government Increased Basic Excise Duty on Petrol and Diesel by Rs. 2 Per Litre with effect from 2nd Jan 2015 - All About Finance

Government Increased Basic Excise Duty on Petrol and Diesel by Rs. 2 Per Litre with effect from 2nd Jan 2015

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To Fund Infrastucture Development Programme, Government Increases Basic Excise Duty on Petrol and Diesel (Both Branded and Unbranded) by Rs. 2 Per Litre; Duties to Come into effect from 2nd 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 2ndJanuary, 2015 (that is from midnight of 1st and 2nd January, 2015). There will be no change in other excise duty rates applicable to these commodities. 

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DSM/RW/SR

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