The price of Indian basket of crude is currently at $62.9/barrel, up from $50/barrel in mid-December, supported by global demand recovery and voluntary production cuts from major oil exporting nations.
As per Budget FY22, the revised estimate on revenue from 'Union Excise Duties is set at Rs 3.61 lakh crore, as against Rs 2.67 lakh crore collected in FY20. The Budget estimate for FY22 is Rs 3.35 lakh crore. Given the estima
Oil Minister Dharmendra Pradhan last week had told Parliament that the government is not considering a reduction in excise duty to cool rates from their record highs.