Govt defers additional excise duty of Rs 2/litre on petrol by one month, diesel by six months

Amid surging inflation which has gone beyond RBI’s comfort level, India has deferred the imposition of additional Rs 2 per litre excise duty on petrol and diesel.

Union Finance Minister Nirmala Sitharaman proposed a Rs 2 per litre additional levy on petrol and diesel that are not blended with ethanol or biodiesel in her Budget for the financial year starting April 2022. This duty was supposed to go into effect on October 1, 2022.