Agri infra cess on petrol and diesel: states suffer; centre neutral, consumers wary

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While India’s finance minister, Nirmala Sitharaman said in heer budget speech that the imposition of the agriculture infrastructure and development cess on petrol and diesel will not bear any additional burden to the consumers, the public is wary and watchful.  Retail price of auto fuels have already reached record highs, as global crude prices have inched higher on […]

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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 fuel demand at 11-month high in December 2020; retail pices in January 2021 touching sky high

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India’s fuel demand rose for the fourth straight month in December 2020, but it was about 2 per cent lower than pre-COVID levels. The total demand for petroleum products in December 2020 fell to 18.59 million tonnes from 18.94 million tonnes a year back, according to provisional data published by the oil ministry’s Petroleum Planning […]

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Rise in fuel sales towards the last few months in 2020 indicates economic recovery: Indian Oil

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Despite disruptions in commercial activities due to the COVID-19 crisis, sales of motor spirit and diesel have increased during 2020, which indicates a revival of the economy, Indian Oil Corporation (IOC) said last week. During 2020, sales of motor spirit have increased by 108 per cent and diesel by 96 per cent over the previous year, […]

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