{"id":3824,"date":"2020-05-07T05:59:42","date_gmt":"2020-05-07T05:59:42","guid":{"rendered":"https:\/\/earlypostdaily.com\/?p=3824"},"modified":"2020-05-07T05:59:43","modified_gmt":"2020-05-07T05:59:43","slug":"centre-to-get-rs-1-6-lakh-cr-from-record-excise-duty-hike-on-petrol-diesel","status":"publish","type":"post","link":"https:\/\/earlypostdaily.com\/index.php\/2020\/05\/07\/centre-to-get-rs-1-6-lakh-cr-from-record-excise-duty-hike-on-petrol-diesel\/","title":{"rendered":"Centre to get Rs 1.6 lakh cr from record excise duty hike on petrol, diesel"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">The Union government will gain close to Rs 1.6 lakh crore in \nadditional revenues this fiscal from a record hike in excise duty on \npetrol and diesel that has pushed total incidence of taxation on auto \nfuels to 70 per cent of the price.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Late on Tuesday evening, the government hiked excise duty on petrol \nby Rs 10 per litre and that on diesel by Rs 13 a litre to mop up gains \narising from international oil prices falling to a two-decade low.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Petrol price remained unchanged at Rs 71.26 a litre and diesel at Rs \n69.39 as state-owned oil firms set off the excise duty hike against \ngains they accrued from fall in international oil rates.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This is the second hike in excise duty in less than two months and \nwill help the government garner over Rs 1.7 lakh crore in additional \nrevenues annually at 2019-20 level of consumption, industry officials \nsaid.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Considering the slump in consumption due to travel restrictions \nimposed by coronavirus lockdown, the gains in the remaining 11 months of\n the current fiscal year (April 2020 to March 2021) will be close to Rs \n1.6 lakh crore, they said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Union government will gain close to Rs 1.6 lakh crore in additional revenues this fiscal from a record hike in excise duty on petrol and&hellip;<\/p>\n","protected":false},"author":1,"featured_media":3825,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[54,22],"tags":[],"class_list":["post-3824","post","has-post-thumbnail","category-latest-news","category-national"],"_links":{"self":[{"href":"https:\/\/earlypostdaily.com\/index.php\/wp-json\/wp\/v2\/posts\/3824","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/earlypostdaily.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/earlypostdaily.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/earlypostdaily.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/earlypostdaily.com\/index.php\/wp-json\/wp\/v2\/comments?post=3824"}],"version-history":[{"count":0,"href":"https:\/\/earlypostdaily.com\/index.php\/wp-json\/wp\/v2\/posts\/3824\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/earlypostdaily.com\/index.php\/wp-json\/wp\/v2\/media\/3825"}],"wp:attachment":[{"href":"https:\/\/earlypostdaily.com\/index.php\/wp-json\/wp\/v2\/media?parent=3824"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/earlypostdaily.com\/index.php\/wp-json\/wp\/v2\/categories?post=3824"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/earlypostdaily.com\/index.php\/wp-json\/wp\/v2\/tags?post=3824"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}