The Centre expects that its move to impose cess on petrol, diesel and aviation turbine fuel (ATF) exports is unlikely to hit fuel exports that touched $67 billion in FY22.
“We have not taken away the entire profit margin on oil exports. So, we don’t think it will have a negative impact on petroleum exports. We hope our petroleum exports will still remain competitive. Duty hike on gold will have a positive impact on current account deficit (CAD),” a senior finance ministry official said.
The finance ministry on Friday imposed cess of Rs 6 a litre, Rs 13 per litre and Rs 6 on petrol, diesel and ATF exports, respectively, to improve domestic fuel supply and garner additional revenue.
