First impacts of the Union Budget 2010 have started to come in now, with the petrol and diesel prices all set to increase in India from Friday midnight.
In his Budget 2010 presentation, Finance Minister Pranab Mukherjee raised customs and excise duties on petrol and diesel. The customs duty on the two was increased to 7.5 per cent from 2.5 per cent, and the excise duty was raised by Rs 1 per litre.
In anticipation of the price rise, long queues were seen at almost all petrol pumps in the Metropolitan cities today. In Delhi, we saw a wait time of over 15 min to get a car refueled.
Here are the new rates for Petrol and Diesel: