Govt to gain Rs 1.6 lakh crore this fiscal from record excise duty hike on petrol, diesel May 05, 2020 at 11:12PM

The cash-strapped government will gain close to Rs 1.6 lakh crore in additional revenues this fiscal from a record increase in excise duty on petrol and diesel, that will help make up for revenue it lost in a slowing economy and shutting down of businesses due to coronavirus lockdown.