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
She is the best External Foreign Minister india ever had. Lets pray for her speedy recovery. India need her badly.
Some sarcastic comments by our dignified readers are unwarranted, as an External Affairs Minster she is doing commendable job unlike her predecessor.
We need to learn to appreciate people irrespective of their political affiliation and/or faith. I pray to Almighty to give her good health to serve India and Indians living abroad for many years to come.
Prophet Muhammad pbuh taught us a beautiful DUA to ask with our CREATOR, who Created the heavens & the earth and all that is in between them.
\ O ALLAH, Lord of MANKIND ! Remove our suffering, Heal us as YOU are the HEALER, and None can HEAL but YOU. I beg YOU to bring about healing that leaves behind no Ailment....
Alhamdullillah (Thanks & praise is due to ALLAH) for guiding me on the knowledge that benefits in our LIFE.."
Poor lady..... the Isa visa issue will start haunting her....before that she wants to get herself admitted so that she donot have to face the media and opposition for ANOTHER BLUNDER by her team (first one was Lalit Modi visa)
She is doing a good job as a foreign minister....may God help her to recover speedily ...
oops ...MAY b terrorist attack on her chest...
Wholeheartedly Pray for Early Recovery. Sushma is one of the Best Foreign Minister in India, ever had. And wonderfully she is Human, though she is in BJP!
Let her go to England to get treated when Lalit Modi and Vijay Malia will pay the bill. Vasundra Raji will be her attender.
Why an VIP room of AIIMS is wasted for such unpatriotic people.
She is an able minister and wish to thank for her services to my nation. I do not see her political color but she has worked beyond the narrow confines of political outlook. May God bless her good health.
Hope this capable and very able minister recovers soon. best external affairs minister in india's history.
You are the pride of India madam! Let God give you all the strength !
She hardly does her job as a minister of external affairs since modi is doing all the travelling not giving her a chance to make her mark as mea. She is probably stressed out because of that.
Get well soon mam. Nation needs you!!
Get well soon madam.
Stress of The Job.
Disturbed to hear that EAM Smt @SushmaSwaraj ji has been admitted to AIIMS. Wish her speedy recovery & good health.
Add new comment