India plans to increase fuel excise duty to fund covid-19 fight

The duty will go up by ₹8 per litre (£0.089) for both petrol and diesel to mobilise additional resources

Indian leadership has decided to fund the fight against the novel coronavirus by increasing the excise duty on fuels.

The duty will go up by ₹8 per litre (£0.089) for both petrol and diesel to mobilise additional resources required to fight the covid-19 pandemic.

The announcement comes amid falling global oil prices.

According to the amendment tabled in the Finance Bill 2020, the Finance Ministry has proposed to increase special additional excise duty on petrol to ₹18 per litre (£0.20) from a present level of ₹10 per litre (£0.11) and on diesel to ₹12 per litre (£0.13) from the present ₹4 per litre (£0.045).

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