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New Delhi: Central government earned about Rs. 8.02 lakh crore from taxes on diesel and petrol during the last three fiscal years, said Union Finance Minister Nirmala Sitharaman.
Out of this, in the financial year 2020-21 alone, the government earned more than Rs 3.71 lakh crore from taxes on petrol and diesel.
“The central excise duties, including cesses collected from petrol and diesel, during the last three years are: Rs 2,10,282 crore in 2018-19; Rs 2,19,750 crore in 2019-20 and Rs 3,71,908 crore in 2020-21.” Sitharaman said.
Further, replying to a query on the increase in excise duty on petrol and diesel during the last three years and the details of revenue earned through various taxes on these fuels in the Rajya Sabha, she said that the excise duty on petrol increased from Rs 19.48 per litre on October 5, 2018, to Rs 27.90 per litre on November 4, 2021.
Earlier, Sitharaman said in the Rajya Sabha that during the same period, the duty on diesel increased from Rs 15.33 per litre to Rs 21.80.
Within this period, the excise duty on petrol fell from Rs 19.48 per litre on October 5, 2018, to Rs 17.98 as of July 6, 2019, while the excise duty on diesel came down from Rs 15.33 to Rs 13.83.
Excise duty on petrol and diesel was increased to Rs 32.98 and Rs 31.83 respectively till February 2, 2021, and then came down to Rs 27.90 per litre (petrol) and Rs 21.80 (diesel) on November 4, 2021, reports said.
Sitharaman, giving more information, stated that the central excise duties, including cess collected from petrol and diesel during the last three years, were Rs 2,10,282 crore in 2018-19, Rs 2,19,750 crore in the year 2019-20 and in the year 2020-21 3,71,908 crores.
Notably, on November 4 this year, the government cut excise duty on petrol and diesel by Rs 5 and Rs 10 per litre, respectively. Following this, many states have reduced Value Added Tax (VAT) on these two fuels.
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