In order to take advantage of a slump in world oil
prices, Indian government on Tuesday raised factory gate duties on petrol by Rs
2.25 a litre and on diesel by Re 1 per litre with immediate effect.
In a statement to Parliament, Finance Ministry said
retail prices would not be affected by the hike and was taken to shore up
government revenues without stoking inflation.
The latest measures were expected to raise an additional Rs 4,000 crore ($650 million) in the remainder of the financial year to end on March 31, 2015.
The latest measures were expected to raise an additional Rs 4,000 crore ($650 million) in the remainder of the financial year to end on March 31, 2015.
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