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.
coastaldigest.com news network
August 1,2020

Bengaluru, Aug 1: The Karnataka government on Friday brought in Additional Director General of Police (Intelligence) Kamal Pant as the Bengaluru police Commissioner in a reshuffle of police personnel.

Pant comes in as the city police Commissioner in place of Bhaskar Rao.

According to a government order, Rao will handle internal security as ADGP, a post which was lying vacant due to the promotion of P S Sandhu.

Along with the two officials, ADGP B Dayananda who was in charge of the Criminal Investigation Department and Economic Offences, has been made the new intelligence chief.

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.
coastaldigest.com news network
May 29,2020

Mangaluru, May 29: Several non-resident Kannadigas from various Gulf countries including Kingdom of Saudi Arabia on Thursday, May 28, interacted with Dakshina Kannada MP Nalin Kumar Kateel through a video conference and urged him to allow the Kannadigas stranded in the Middle East to return by facilitating the operation of repatriation flights.

The development comes amidst reports that lack of preparedness on parts of the local authorities in Karnataka compelling the Centre to delay the operation of flights from Middle East to Mangaluru and Bengaluru airports.

“We have never forgotten you. We will take necessary steps for your safe return to the homeland as soon as possible,” assured Mr Kateel after paying heed to the complaints of non-resident Kannadigas.

The video conference was organised by Ravi Shetty, ex president of Kannada Sangha Qatar.

Praveen Kumar Shetty, president, Karnataka NRI Forum of UAE, Sarvottam Shetty of UAE Karnataka Sangha, Avikshit Rai, Ravi Shetty, former president of Qatar Kannada Sangha, Santosh Shetty of Riyadh Karnataka NRI Forum, Zakariya Jokatte, president of Dammam Karnataka NRI Forum, Mohammad Mansoor, president of Bahrain Indian Overseas Congress, NS Shetty Kuwait, Pradeep Shetty of Kannada Sangha Bahrain, Karunakar Rao, Shashidhar Shetty Oman, Rajesh of Kuwait Kannada Sangha, Ramesh Bhandari, M E Muloor and Sunil Kulkarni among others participated in the video conference.

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.
coastaldigest.com news network
May 18,2020

Bengaluru, May 18: Karnataka chief minister B S Yediyurappa today announced lockdown relaxations from tomorrow (May 19) across the state. As per new guidelines public transport services will start operations outside COVID-19 containment zones in the state. 

 “To facilitate easy movements of citizens, services of the BMTC, KSRTC, NEKRTC and NWKRTC will start from Tuesday morning, except in containment zones. Even private buses can ply,” Yediyurappa said, after discussing the Centre's Lockdown 4.0 guidelines with his Cabinet colleagues and officials. 

“The only condition is that only 30 people should travel in one bus so as to ensure social distancing,” the CM said. 

He also clarified that bus fares will not be hiked. “I know there will be losses incurred. The government will bear the losses,” he said. 

Auto rickshaws, taxis and maxi cabs (six-passenger vehicles) will also be allowed to operate. “Auto rickshaws and taxis will have a driver and two passengers. Maxi cabs will have a driver and three passengers,” Yediyurappa said. 

All parks in the state will be open 7 am to 9 am and 5 pm to 7 pm. 

Starting Tuesday, all shops except malls and theatres can open. “This includes salons,” the CM said. 

All relaxation will cease to exist every Sunday, the CM said. “Every Sunday will be a complete lockdown. There’ll be no shops and the movement of people. It’ll be a complete rest day,” he said. 

The existing curfew from 7 pm to 7 am will continue on all days, which means public transport services will not be allowed during this time. 

Trains will run within the state, but interstate trains will not be allowed till May 31, the CM said. 

It is mandatory for citizens to wear masks in public. “Not wearing a mask will be penalised,” Yediyurappa said. 

On the classification of zones, Yediyurappa said the government's main focus was containment zones. “We're particular about containment zones. In the Karwar district, for example, Bhatkal will be a containment zone and no other taluk will have restrictions,” he said. 

However, the government will review the relaxation based on how things pan out. “States have been given the freedom, so we can withdraw or modify as necessary,” he said.

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.