economy
Why is govt not reducing excise duty for fuel?
Jul 30, 05:07

The government is not keen on cutting excise duty on petrol and diesel even though fuel prices have risen to record levels in the country and continue to remain. It comes as the government is incurring high expenses due to the Covid19 pandemic. The government has budgeted spending for vaccination drives and to provide free food grain to the poor under Pradhan Mantri Garib Kalyan Yojana. Apart from these direct expenses, it is also supporting various schemes under the fiscal stimulus package which would need further funding. The government has netted a whopping Rs 94,181 crore in revenue through excise duty on fuel between April and June 2021.

Excise Duties at a Glance