India increases fuel taxes in a bid to shore up revenue.

NEW DELHI -- India on Saturday increased taxes on petrol and diesel in a desperate attempt to increase government revenue at a time when tax collections have fallen amid the weakest economic growth in six years. The excise duties on the fuels, which have been hiked by 3 rupees per litre, is expected to result in up to 400 billion Indian rupees ($5.42 billion) increase in revenue, a senior government official said. Taxes on petrol and diesel, which account for more than a third of retail fuel prices, are one of the biggest...