The Centre has collected Rs 94,181 crore by excise obligation levy on petrol and diesel in the course of the first quarter interval of 2021-22.
Excise obligation on petrol was hiked from Rs 19.98 per litre to Rs 32.9 in 2020-21 with a purpose to benefit from falling worldwide crude costs, which had dipped sharply in the course of the earlier fiscal as a result of Coronavirus pandemic which had erupted throughout that yr.
This info was offered to the Lok Sabha by a written reply by Minister of State for Petroleum and Pure Fuel Rameswar Teli to a slew of questions on rising petrol and diesel costs, which have crossed the Rs 100 mark in a number of states throughout the nation.
Equally the excise obligation on diesel was additionally hiked to Rs 31.8 from Rs 15.83 a litre, in accordance with the minister’s reply.
This led to excise collections on petrol and diesel leaping to Rs 3.35 lakh crore in 2020-21 (April 2020 to March 2021), from Rs 1.78 lakh crore a yr again, he mentioned.
Collections would have been larger however for gasoline gross sales falling resulting from lockdown and different restrictions imposed to curb the unfold of the coronavirus pandemic, which muted financial exercise and stalled mobility, the minister additional added within the reply.