<div>India on Tuesday (2 December) raised excise duties on petrol by Rs 2.25 per litre and on diesel by Re 1 per litre with immediate effect, the finance ministry said in a statement to parliament.<br><br>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.<br><br>A source familiar with the matter said the latest measures were expected to raise an additional Rs 4000 crore ($650 million) in the remainder of the fiscal year to the end of March 2015.</div><div><br><br>(Agencies)<br> </div>
_20240428142749original_image_31.webp)
