Successive hikes in taxes on petrol and diesel in 2020 increases India’s excise duty collection by 48%

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While the pandemic stifled tax collections across the country, India’s excise duty mop-up jumped by 48 per cent in the current fiscal on the back of a record increase in taxes on petrol and diesel. It more than made up for the below-normal fuel sales during the lockdowns. Excise duty collection during April-November 2020, was […]

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India’s Apr-Sep 2019 fiscal deficit (half-yearly) reaches 92.6% of FY20 target

India’s fiscal deficit touched nearly 93 per cent of the budget estimate at Rs 6.52 lakh crore during April-September period of the current financial year, according to latest government data. The fiscal deficit amounts to 92.6 per cent of the budgeted target for the current fiscal year. In absolute terms, the fiscal deficit, the gap […]

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