New Delhi, 31 October: Due to the record high prices of petrol-diesel, while the load on the pocket of the common man is increasing, on the other hand, the government is benefiting tremendously from the rising prices.
Excise duty collection on petroleum products has increased by 33 per cent in the first half of the current financial year as compared to the same period last year. This information has been received from official figures. If compared with the pre-Covid figures, there has been a huge increase of 79 percent in the excise duty collection on petroleum products.
According to the data of the Controller General of Accounts (CGA) in the Finance Ministry, the government’s excise duty collection on petroleum products in the first six months of the current financial year has increased by 33 percent to Rs 1.71 lakh crore as compared to the same period last fiscal. It was Rs 1.28 lakh crore in the same period last year.
79 percent more than in 2019
This is 79 percent more than the figure of Rs 95,930 crore for April-September, 2019. In the entire financial year 2020-21, the government’s excise duty collection from petroleum products stood at Rs 3.89 lakh crore. In 2019-20 it was Rs 2.39 lakh crore.