India raises excise duties on diesel, petrol

India raises excise duties on diesel, petrol
Highlights

India on Saturday raised excise duty on diesel by 2 rupees a litre and on petrol by 37 paise per litre, local media reported.

India on Saturday raised excise duty on diesel by 2 rupees a litre and on petrol by 37 paise per litre, local media reported.


The hike seeks to take advantage of a slump in global crude oil prices to shore up government revenues without stoking inflation. Crude oil prices fell 35 percent in 2015.

On December 31, Indian Oil Corp (IOC) announced price cuts.

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