I was inspired by PM Modi; now I am hurt, says seer after BJP denies him ticket

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”.

Udupi, Jan 22: Writer Richie John Pais will be conferred with the Best Konkani Book Award, instituted by Dr T M A Foundation in recognition of his contribution made to Konkani Language and Literature.

According to a statement, the Award carries Rs 10,000 in cash and a citation.

‘Fathor’, a collection of Konkani short stories authored by Richie John Pais was published in 2017 has been chosen for the Dr TMA Foundation Best Konkani Book Award 2018.

Bengaluru, Jun 4: The Special Investment Promotion Task Force, constituted by the Karnataka government, held its first meeting in Vidhana Soudha, Bengaluru on Wednesday, June 3.

The first meeting of the task force was held under the chairmanship of Chief Secretary, Karnataka government.

The body is seeking to find ways to attract the disenchanted multi-national corporations (MNCs) which are looking to shift their manufacturing base away from China in the back-drop of the COVID-19 outbreak.