Excise collection jumps 79% in Q2

The government’s collection from levy of excise duty on petroleum products has risen 33 % in the first six months of the current fiscal when compared with last year and is 79 % more than pre-Covid levels, official data showed. Data available from the Controller General of Accounts (CGA) in the Union Ministry of Finance showed excise duty collections during April-September 2021 surging to over Rs 1.71 lakh crore, from Rs 1.28 lakh crore mop-up in the same period of the previous fiscal.

Thanks to a steep hike in excise duty rates, the collection is 79 % more than Rs 95,930 crore mop-up in April-September 2019.

In the full 2020-21 fiscal, excise collections were Rs 3.89 lakh crore and in 2019-20, it was Rs 2.39 lakh crore, CGA data showed.