• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest
• The New Manager

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

K.R. Srivats
Richa Mishra

Mop-up at Rs 31,773 cr in April-December

Advertisement

New Delhi March 3 A price cut in auto fuels in November 2006 notwithstanding, the Centre's excise duty collections from petrol and diesel grew 9.61 per cent in April-December this fiscal on a year-on-year basis.

Official sources said that basic excise duty collection from petrol and diesel surged to Rs 31,773 crore during the period under review compared with Rs 28,986 crore in the same period in the previous year.

While excise duty collections from motor spirit grew 6.12 per cent to Rs 13,619 crore (Rs 12,834 crore), the collections from diesel grew 12.39 per cent to Rs 18,154 crore (Rs 16,152 crore).

Excise duty collections of Rs 31,773 crore from petrol and diesel during April-December this fiscal accounted for 38.41 per cent of the revised estimate of Rs 82,726 crore pegged for 2006-07.

The Centre's excise duty collections from petrol stood at Rs 13,792 crore in 2004-05 (Rs 12,575 crore in 2003-04). Excise duty collections from diesel during 2004-05 stood at Rs 14,455 crore (Rs 13,470 crore in 2003-04).

Prior to the latest revision in prices (February 15, 2007) and excise duty cut (February 28, 2007) on petrol, the excise duty's share in the retail selling price of petrol stood at about 34 per cent in Delhi.

The Finance Minister, Mr P. Chidambaram, had on Wednesday in his Budget speech announced a cut in the ad valorem component of excise duty on petrol and diesel from 8 to 6 per cent.

He had said that this cut would result in revenue loss of about Rs 2,700 crore to the exchequer.

Oil industry officials maintained that the latest round of price and duty cuts has had marginal impact on the under-recovery situation on these products as crude prices continued to hover above $55 a barrel.

More Stories on : Excise and Customs | Petroleum

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Record wheat crop in the offing

Copyright © 2007, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line