Govt collects over Rs 2 lakh cr from levies on petrol, diesel
The excise levy on petrol earned Rs 64,509 crore and while that on diesel garnered Rs 1,37,426 crore.business Updated: Mar 31, 2017 17:58 IST
The government today said total collection through excise duty on petrol and diesel has been Rs 2,01,935 crore for the first 11 months of FY 2016-17.
The excise levy on petrol earned Rs 64,509 crore and while that on diesel garnered Rs 1,37,426 crore.
Minister of State for Finance Santosh Kumar Gangwar in a written reply to the Lok Sabha said an additional duty of excise of Rs 6 per litre is levied and collected on Motor Spirit (petrol).
He further said an additional duty of excise of Rs 6 per litre is levied on high speed diesel oil.
Noting that these levies are deemed to be a cess for the purpose of the Central Road Fund Act 2000, Gangwar said the funds accrued under the Central Road Fund are utilised for development of state roads and roads of economic importance and inter-state connectivity.