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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”.

Bengaluru, Feb 9: Six persons, including three Nigerian nationals, have been arrested for their involvement in a fake kidney racket, through which they duped over 300 people, police said on Sunday.

The case was cracked by a Special Investigating Team (SIT) headed by Banasawadi, Assistant Commissioner of Police, Raviprasad. These people had duped scores of people, by misusing the name of a well known hospital located in Bengaluru.

Bengaluru, Jun 8: The Janata Dal (Secular) on Monday announced that former Prime Minister HD Deve Gowda has decided to contest the forthcoming Rajya Sabha elections.

"Former Prime Minister HD Deve Gowda has decided to contest the Rajya Sabha elections at the request of our party legislators, Congress President Sonia Gandhi and many other leaders of the country. Tomorrow, he will be filing nomination for the election. Thanks to the former PM for agreeing to everyone's consensus," JDS leader HD Kumaraswamy said.

The elections to fill the vacant 18 Rajya Sabha seats from seven states are scheduled to be held on June 19.

Four Rajya Sabha seats are up for grabs in the state, Congress has already nominated senior leader Mallikarjun Kharge as its candidate.

The ruling BJP will field candidates for two seats.