The government got Rs 3.35 lakh crore from taxes levied on petrol and diesel during the financial year ended March this year. This amount was 88% more than the amount of Rs 1.78 lakh crore received from him last year. This information was given by the Minister of State for Petroleum and Natural Gas, Rameshwar Teli in the Lok Sabha.
Excise duty of Rs 32.9 on petrol
This increase in tax revenue from petrol and diesel is due to almost doubling of the excise duty on both the petro products. Excise duty on petrol was increased from Rs 19.98 per litre to Rs 32.9 while that of diesel was increased from Rs 15.83 to Rs 31.8.
2.13 lakh crore collection in 2018-19
According to experts, the government would have got a higher excise duty on diesel and petrol had the lockdown not lasted longer. Economic activity slowed down due to other restrictions imposed along with it to control Covid. In 2018-19, the government had received excise duty of Rs 2.13 lakh crore from petrol and diesel.
Collection in 2021 stood at 3.89 lakh crores
In response to a question, Minister of State for Finance Pankaj Chaudhary said that in April-June, a total of Rs 1.01 lakh crore excise duty was collected. This included not only petrol and diesel, but also the excise duty levied on jet fuel and natural gas and crude oil. The total excise collection in the financial year 2021 was Rs 3.89 lakh crore.