The Centre on Thursday increased the basic excise duty on petrol and diesel by Rs 2 per litre. 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. “Govt. has decided to increase basic excise duty on petrol and diesel by Rs 2/litre for infrastructure development, esp building15000 km of road,” he wrote. “However,retail price of Petrol & Diesel will remain unchanged allover India despite additional excise duty of Rs 2/litre from midnight today,” he added. The Centre is also reportedly of the view that the allocation of these resources to the road sector will also spur economic activity and employment generation arising from the road construction sector. There will be no change in other excise duty rates applicable to these commodities.

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Centre increases basic excise duty of petrol, diesel by Rs 2