Basic excise duty on unbranded petrol has been increased from Rs 7.06 per litre to Rs 7.36 and the same on unbranded diesel from Rs 4.66 to Rs 5.83 per litre.

Finance Minister Arun Jaitley said the increase in duty will yield an additional Rs 2,500 crore in revenue during the remainder of the 2015-16 fiscal which ends on March 31, 2016.

After including additional and special excise duty, the total levy on unbranded petrol will be Rs 19.36 per litre as against Rs 19.06 currently.

Similarly, on unbranded or normal diesel, total excise duty after including special excise duty will be Rs 11.83 per litre as compared to Rs 10.66 now.

Basic excise duty on branded petrol has been raised from Rs 8.24 per litre to Rs 8.54 a litre and the same on branded diesel from Rs 7.02 to Rs 8.19 per litre.

This is the second increase in excise duty in less than six weeks. The government had on November 7 raised excise duty on petrol by Rs 1.60 per litre and on diesel by 30 paise a litre.

The government had collected Rs 99,184 crore in excise collections from the petroleum sector in 2014-15. This was Rs 33,042 crore in the first quarter of current fiscal.

Read more: Petrol price cut by 50 paisa; diesel by 46 paisa

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