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”.

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Lovely indian
 - 
Wednesday, 10 Jun 2020

Acche din for modi bakth....lets enjoy

 

you need only ram mandir and NRC

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News Network
March 18,2020

Bengaluru, Mar 18: Karnataka Chief Minister B S Yeddyurappa on Wednesday said that the lockdown in the state will continue till March 31st. However restaurants and hotels will remain open.

Speaking to reporters here, Yediyurappa had said, "...we need to take more stringent measures, when the US President has recommended avoiding gatherings ofmore than 10 people in his country. We will discuss in the cabinet and take all necessary measures."

Two more coronavirus cases have been registered in Bengaluru on Wednesday, 18 March, taking the total infected cases to 13, ANI reported quoting state Health Minister B Sriramulu.

Meanwhile, Dental clinics in Bengaluru have shut shop after order from Indian Dental Association and Karnataka State Denta Council. The doctors have been advised to treat the patients only if there is an emergency.

In Udupit distrcit, Section 144(3) have been imposed across the district by DC G Jagadish.

No religious events allowed, devotees should not enter temples, churches or Masjid's in groups. Tourist locations closed. Students in PGs and Hostels asked to return home.

While, schools and colleges remained shut, IT professionals and other professionals working in air- conditioned places were advised to work from home. Till Tuesday evening, 13 COVID-19 positive cases have been reported in Karnataka, including one death.

The State government had on March 13 leapt into action announcing lock-down of malls, cinema theatres, pubs and night clubs for a week.

Instructions were also given to stop all kinds of exhibitions, summer camps, conferences, fairs, marriages, sports and engagement events and birthday parties state-wide for a week from Saturday.

While, schools and colleges remained shut, IT professionals and other professionals working in air- conditioned places were advised to work from home. Till Tuesday evening, 11 COVID-19 positive cases have been reported in Karnataka, including one death.

The Ministry of External Affairs confirmed that there are 276 coronavirus infected Indians abroad - 255 in Iran, 12 in UAE, five in Italy, one each in Sri Lanka, Hong Kong SAR, Kuwait, and Rwanda.

Earlier in the day, the total number of confirmed COVID-19 cases in India neared 150, according to the Health Ministry data.

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News Network
January 28,2020

Chikkamagaluru, Jan 28: Karnataka Deputy Chief Minister and Minister for Public Works Govind Karjol on Tuesday said that he is ready to quit if the post asks him to do so to pave way for smooth expansion of the Cabinet.

Responding to a question from media persons on the issue here, he said he was ready to quit his post any time.

“If the party asks me to resign now, I will send back my official car and return by bus”, he added.

Further, he opined that there should not be efforts to seek a berth in the Cabinet based on caste.

“Putting pressure on the party based on caste is not right. The party will consider those who worked for the party and also take district-wise representation into account while filling up the vacancies”, he added.

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News Network
February 28,2020

Bengaluru, Feb 28: BS Yediyurappa’s contribution to the economy is substantial, and he is one CM who has contributed largely to making India the fifth largest economy, said Defence Minister Rajnath Singh on Thursday.

“He will ensure that Karnataka contributes towards making India the third-largest economy in the coming days,” Singh said, who had flown from New Delhi to participate in the CM’s birthday celebrations.

Singh recalled Yediyurappa asking him how to increase welfare measures for farmers, and had suggested that the CM reduce interest rates on loans to help the community. “Yediyurappa took the suggestion seriously and reduced interest of loans to a mere 4 % and gradually reduced it to 1 % before coming down to zero,” Singh said, appreciating Yediyurappa’s love for farmers.

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