Indian government may revise the excise duty collection target for 2023-24 downwards by Rs 45,000 crore. It is said to factor in some possible fiscal support in case crude oil prices continue to remain elevated.
However, the revision is not likely to impact the overall revenue mop-up as the other resources may make up for the shortfall. "Excise collection target may be revised downwards in the revised estimates by about ₹45,000 crore than in BE (budget estimates)," a senior finance ministry official told ET.