Recent Economic News-Consumption of Petrol Diesel reduced due to Nationwide Lock-down.

Economic News Update-Lower Demand reduced the Revenue for the Indian Government. 

Excise Duty on Petrol Diesel may Increase again, try to Compensate for the Revenue Loss. statement in the Economic updates

The Government has the option to increase duty up to 8 rules per liter. 

⇛The government is in the process of raising excise duty on petrol and diesel. Since excise duty levied on petrol diesel is a major revenue for the Indian government. According to the recent economic news updates, at present, the consumption of petrol diesel is very low due to lock-down across the country. 

⇛. As mentioned in the business news, On March 14, the government increased excise duty on petrol and diesel by Rs 3 per liter. In the form of 2 rupees per liter of excise duty and 1 rupee was raised under Road & Infrastructure. 

⇛After this, the government had given a maximum limit of duty by 8 rupees. Means, the government has the option to increase the duty by further 8 rupees.