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TMC protests against hike in fuel excise duty

New Delhi, Dec 3 (ANI): Leaders of Trinamool Congress (TMC) party, on Wednesday (December 03), staged a protest outside parliament against a hike in excise duty of petrol and diesel. India on Tuesday (December 02) raised excise duties on petrol by 2.25 rupees per litre and on diesel by one rupee per litre with immediate effect, the finance ministry said in a statement to parliament. The increases, which follow similar hikes in mid-November, seek to take advantage of a slump in world oil prices to shore up government revenues without stoking inflation. A source familiar with the matter said the latest measures were expected to raise an additional 40 billion rupees in the remainder of the fiscal year to the end of March 2015. Meanwhile, TMC staged protest against the hike, saying the Indian consumers could not avail of advantage of global slump in fuel prices. Dec 3, 2014
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Hike in excise duty aimed to meet budget deficit: Dharmendra Pradhan

New Delhi, Dec 03 (ANI): Petroleum minister Dharmendra Pradhan on Wednesday said that the government hiked excise duty on petrol and diesel for the second time in three weeks to shore up revenue to meet budget deficit without burdening the consumer. The government had on Tuesday raised excise duty on petrol by Rs.2.25 per litre and by Rs.1 a litre on diesel but retail pump rates will not be increased as oil firms decided to absorb the duty change for the time being. Dec 3, 2014
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