With base price at just Rs 18, Indians now pay 275% in taxes to govt on every litre of petrol!

coastaldigest.com web desk
June 9, 2020

With the steep hike in excise duty in the past couple of months, an average consumer of petrol now pays over 275% in taxes to centre and states on a litre of the fuel.  The base price of petrol is just about Rs 18. The taxes are close to Rs 50 and the pump price is over Rs 72.

India imports 85% of all its crude oil demand.  After a steep hike in excise duty in the past two months despite a hold on daily price revisions by the oil public sector undertakings (PSUs), Indian consumers now pay 275% collectively in excise duty to state and centre. 

The central government hiked excise on petrol and diesel by Rs 10 and Rs 13 respectively last month. The excise duty on petrol is taxed around Rs 33-a-litre while the same on diesel it is Rs 32.

The Value-Added Tax (VAT) on both petrol and diesel is Rs 16.44 and Rs 16.26 respectively. Both the taxes together are around Rs 49 while it is sold at petrol pumps at 73-per-litre.

These two taxes cumulatively account for 69% of tax which is higher than anywhere else in the world. The same is taxed at 19% in the US, 47% in Japan, UK 62% and 63% in France. The government does not pass on the benefit of lower crude oil prices to the customer.

It is to be noted that Indian consumers continued to pay Rs 70-a-litre even when crude oil prices hit a paltry US $ 20-a-barrel on April 12.

Former finance minister and Congress leader recently took a jab at the Centre over rising prices stating, “Fuel selling prices raised twice in two days, following tax hikes two weeks ago. This time to benefit oil companies. Government is poor, it needs more taxes. Oil companies are poor, they need better prices. Only the poor and middle class are not poor, so they will pay”.

Comments

Lovely indian
 - 
Wednesday, 10 Jun 2020

Acche din for modi bakth....lets enjoy

 

you need only ram mandir and NRC

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
April 4,2020

Hubli, April 3: Twelve people including 5 women as well as 50 unidentified people have been booked for allegedly pelting stones at police personnel in Mantur area of Hubli on Friday.

The police were allegedly attacked for stopping people from offering Friday prayers at a mosque, during the ongoing lockdown put in place in the wake of the coronavirus outbreak.

"12 people including five women and 50 unidentified people have been booked for stone-pelting at police personnel in Mantur area of Hubli today. The women have been taken into custody while police are searching for the others," said Hubli-Dharwad Police Commissioner R Dilip.

The Police Commissioner further said, "Some prominent people of the community had also urged the devotees to go to their homes but they got agitated."

"Four policemen have sustained minor injuries in the incident," he said adding that "legal action will be taken against the culprits." 

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
April 15,2020

New Delhi, Apr 15: Congress leader Rahul Gandhi on Wednesday urged the government to organise flights to bring back Indian workers stuck in the Middle East and desperate to return.

He said the workers are in deep distress there due to shutting of businesses in the Middle East due to the COVID-19 pandemic.

"The Covid19 crisis and shutting of businesses in the Middle East have left thousands of Indian workers in deep distress and desperate to return home.

"The Government must organise flights to bring home our brothers and sisters most in need of assistance, with quarantine plans in place," he said on Twitter.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
July 23,2020

Bengaluru, Jul 23: The opposition party Congress on Thursday demanded a judicial enquiry in the alleged scam in coronavirus related medical equipment procurement by Karnataka government.

However, Deputy chief minister Ashwathnarayan and Home Minister Basavaraj Bommai denied all the allegations.

Leader of Opposition (LoP) and former Chief Minister of Karnataka Siddaramaiah and Karnataka Congress president DK Shivakumar addressed a press conference here and demanded a judiciary enquiry under a sitting High Court judge to investigate "BJP's Corona Scams."

"I made allegations on July 3. Nobody has denied it officially. On July 20, Karnataka Health Minister B Sriramulu and Deputy Chief Minister Ashwathnarayan in a press conference denied my allegations. Today, I furnished 14 documents. If you go through it, you will find corruption and misappropriation in medical equipment purchase," Siddaramaiah said.

"The documents are available with the government, how can they deny their own documents. They are telling that they have spent only Rs 324 crore but according to me the government has spent more than Rs 4,000 crore and nearly Rs 2,000 crore went in the minister and bureaucrats' pockets," he said.

He further said, "Centre has procured 50,000 ventilators under PM Cares at a cost of Rs 4, lakh per unit. Tamil Nadu has procured at Rs 4.78 lakh. But in our state, the price is between Rs 5.6 lakh to Rs 18.2 lakh. Is this not corruption?"

Siddaramaiah also dared the government to step up for an enquiry if they are "honest and transparent".

"I am demanding, constitute a judicial committee headed by sitting high court judge, let there be an enquiry in detail," he said.

DK Shivakumar said that his party has made the allegations based on government documents and media reports showing corruption.

"Karnataka government is purchasing equipment at high rates. We have exposed BJP's Rs 2,000 crore scams today. The government's main focus is to loot. They have paralysed the state administration," he said.
Denying the Congress' allegations, Deputy Chief Minister, Ashwathnarayan said that the government is ready to discuss this in the Assembly house.

"They have alleged Rs 700 crore misappropriation by health department but we have shown we have spent only Rs 290 crore," he said.

Giving details of the SDRF expenditure towards COVID-19 containment he said, "We have released Rs. 23,220.01 lakh in SDRF accounts and they have spent Rs Rs. 15, 918.99 lakh in various activities like migrant relief measures, measures for quarantine, sample collection, screening from March 14 to July 16."

Karnataka Home Minister, Basavaraj Bommai, said, "Karnataka government has spent Rs 506 crores for medical equipment and Rs 1,611 crores for other activities related to combatting COVID-19. So, we have spent Rs 2,117 crores as of now and there is no corruption in it."

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.