The Central government of India has announced a hike in excise duty on petrol and diesel by Rs 2 per litre, bringing the total excise duty on petrol to Rs 13 per litre and on diesel to Rs 10 per litre. This increase, effective from April 8, is expected to balance out the recent decrease in international oil prices, keeping retail fuel prices stable. The move comes amidst the government’s efforts to generate additional revenue to combat the economic impact of the COVID-19 pandemic. The decision to raise excise duty on petrol and diesel is likely to have an impact on consumers, as it may prevent a reduction in fuel prices at the pumps despite the decline in global oil prices. The government’s decision to hike excise duty on petrol and diesel aims to provide a cushion to the economy during these challenging times. This development underscores the government’s focus on managing fiscal challenges while ensuring stability in fuel prices for consumers across the country.