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
June 23,2020

Bengaluru, Jun 23: Former Karnataka Chief Minister HD Kumaraswamy on Tuesday demanded that Bengaluru should be put under lockdown for 20 days to contain the spread of coronavirus, the cases of which have risen sharply recently.

 “Stop playing with people's lives. There’s no use in sealing off only some areas. If the people of Bengaluru must live, then a lockdown of at least 20 days is needed. Otherwise, Bengaluru will become another Brazil,” Kumaraswamy said in a tweet. “People’s health is more important, not economy.”

The JD(S) leader was reacting to the BJP government's decision to impose an area-wide lockdown in Chickpet, KR Market, Kalasipalyam and Chamarajpet while streets will be sealed off in VV Puram, Siddapura, Yelahanka, Vidyaranyapura and Chickpet.

Bengaluru has witnessed a huge spike in its Covid-19 tally; the city currently has at least 919 active cases. This has sparked off fears that the contagion might have reached the community.

Kumaraswamy has also demanded welfare measures for the poor. “The poor and the labourers should be given ration immediately. The state’s 50 lakh working class should get ₹5,000 each. The aid already announced by the government hasn’t reached drivers, weavers, Madiwalas and other communities,” he said, adding that mere announcements of a package won’t be enough and “it has to be implemented.”

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
January 25,2020

Mangaluru, Jan 25: Hotelier Samtappa reportedly committed suicide by consuming poison in Kadaba taluk in the district on police said on Saturday.

The deceased was running a hotel named Hotel Samtappa here.

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
June 25,2020

Bengaluru, Jun 24: Dr K Sudhakar on Wednesday held a video conference with senior officials to review the preparedness for conducting of SSLC examinations safely which is beginning from Thursday.

"8,48,203 students will appear for the SSLC examination starting tomorrow in 2,879 centres across the state. All the guidelines issues by state government must be followed strictly" Sudhakar said in the meeting.

"It is the collective responsibility of officials of all departments to ensure that every student is safe, from the time he or she leaves home for the exam centre and returns home after the exams. The vehicles used to ferry students, where public transport is not available, must be sanitised properly. The surroundings near exam centres, exam halls, toilets must be sanitised properly. Social distancing must be maintained in the exam hall and mask must be provided to all students," he said.

The minister also said that since the students have been asked to arrive at exam centre at 7:30 in the morning, a small biscuit packet must be provided to each student so that they don't feel hungry during the exam and till they return home after the exam.

"Thermal scanning of every student should be done before allowing inside the exam hall. In case there is fever those students must be made to write exam in separate room. Separate exam halls must be arranged for students in quarantine areas and if it's not feasible they must be allowed to write exam in September. District administrations must disseminate information about precautionary measures taken to build confidence among parents," the minister said.

Sudhakar instructed the officials to work in coordination with the Education Department and other departments.

Stating that there are 458 containment zones in Bengaluru, the minister asked the officials to be extra cautious in these areas and make arrangements to ensure health department staff can take students to the nearest health center if anybody is found ill during the exam.

Education Minister Suresh Kumar, Additional Chief Secretary Javed Akhtar, Education Secretary, Secretary of Medical Education Department, BBMP officials, Health Experts and others were present.

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.