Excise duty collection surges 48% in FY21 on high fuel levies

New Delhi: Union Finance and Corporate Affairs Minister Nirmala Sitharaman addresses a Post-Budget press conference in New Delhi on Feb 1, 2020. Also seen Union MoS Finance and Corporate Affairs Anurag Thakur, Principal Secretary (Finance) Tuhin Kant Pandey, Expenditure Secretary TV Somanathan, Finance and Banking Secretary Rajiv Kumar, Economic Affairs Secretary Atanu Chakraborty, Revenue Secretary Ajay Bhushan Pandey, Press Information Bureau Director General KS Dhatwalia and Chief Economic Advisor Krishnamurthy Subramanian. (Photo: IANS)

New Delhi, Jan 17 (IANS) As the government has kept excise duty on petrol and diesel elevated amid the pandemic with a view to increasing revenue, the total excise duty collection during April-November FY21 has surged nearly 48 per cent as compared to the year-ago period.

The excise duty collection during the first eight months of the current financial year was over Rs 1.96 lakh crore, compared to over Rs 1.32 lakh crore collected during April-November FY20, official data showed.

The collection in November 2020 was highest so far in the financial year 2020-21 at Rs 35,703 crore. In November 2019, excise duty collection stood at Rs 18,948 crore.

The total excise duty in the last financial year was over Rs 2.39 lakh crore.

As fuel prices are at record high despite low crude oil prices, demand has been raised from several quarters to reduce the excise duty on petrol and diesel to provide relief to the common man.

In the national capital, petrol is sold at a record high level of Rs 84.70 a litre while diesel is priced at Rs 74.88 per litre.

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