Economy

Big surge in collection from petrol, diesel, natural gas during six years of Modi govt

Our Bureau New Delhi | Updated on March 22, 2021

In first ten months of current fiscal, excise duty collection from petrol was over ₹89,500 crore, from diesel over ₹2.01 lakh cror   -  REUTERS

Mop-up at ₹2.95-lakh cr in first 10 months of FY 2020-21

The Finance Ministry, on Monday, informed the Lok Sabha that the collection from petrol, diesel and natural gas crossed over ₹2.95 lakh crore during the first 10 months (April-January) period of FY2020-21.

The collection saw a surge of nearly 300 per cent during six years of the Modi Government.

In a written response to an unstarred question, Minister of State for Finance Anurag Singh Thakur said the Government got over ₹29,000 crore from petrol in 2014-15, while for diesel the amount was over ₹42,800 crore. Collection from natural gas was around ₹2,000 crore. All these combined to around ₹74,000 crore. In terms of total revenue target it was 5.4 per cent.

Increase of over 29%

During April-January period of current fiscal, collection of excise duty from petrol was over ₹89,500 crore while from diesel it was over ₹2.01 lakh crore. Along with natural gas, total collection exceeded ₹2.95 lakh crore.

Comparing this number with full-year collection of FY 14-15 (first year of Modi Government), the increase is over 29 per cent. Also, the share in total revenue collection crossed 12 per cent.

Published on March 22, 2021

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