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India hikes excise duty on diesel and petrol - govt statement

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Reuters NEW DELHI

NEW DELHI (Reuters) - India has raised excise duty on petrol and diesel to boost revenues and contain budget borrowing that could put off a likely cut in the retail prices of the two fuels.

The government has raised the factory gate tax by 1.50 rupees a liter each for the two fuels.

(Reporting by Nidhi Verma and Manoj Kumar; Editing by Douglas Busvine)

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First Published: Nov 13 2014 | 2:37 PM IST

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