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
December 10,2024

SMKrishna.jpg

Bengaluru: Karnataka has declared a holiday for state government offices, schools and colleges on Wednesday, December 11, in the wake of a state funeral for former chief minister S M Krishna, who passed away in Bengaluru on Tuesday.

The last rites of Krishna, 92, will be held at his native village of Somanahalli in Mandya's Maddur taluk.

A government order stated that the holiday would apply to private aided educational institutions too.

Besides, the government has declared three days of mourning (December 10-12), during which no public entertainment programmes would take place, while the national flag would fly at half-mast.

S M Krishna passed away at his residence on December 10, 2024. The 92-year-old veteran politician was ailing for quite some time, a family source said.

A charismatic leader with a modern outlook, he not only laid a strong foundation for the growth of IT and BT industries in Karnataka but also managed to get them onboard with the government to build “Brand Bengaluru” at the international level.

He held several prominent positions throughout his career as External Affairs Minister, Maharashtra Governor, Chief Minister of Karnataka, Speaker of Karnataka Legislative Assembly and Minister in the Karnataka government.

Although known for his tech savviness, flamboyancy, style and the Western outlook, the Congressman-turned-BJP senior leader was a hardcore Bengalorean who loved the city’s trees and flowers. SMK also had a love for tennis. Even when he was Chief Minister, he would visit the tennis court to play the game two to three times a week. 

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News Network
December 10,2024

Mangaluru: In a chilling reminder of the dangers lurking online, a man from Mangaluru fell victim to a sophisticated investment scam, losing a staggering ₹16.9 lakh. The fraudsters, posing as investment advisors, lured the victim via a WhatsApp group with promises of lucrative returns in the share market.

The trap was set when the victim clicked on a link sent by the fraudsters and downloaded a suspicious app. Over time, he transferred substantial sums of money to the fraudsters’ bank accounts, believing he was making profitable investments.

The scam unraveled when the victim tried to withdraw his money but found himself unable to do so. Realizing he had been duped, he lodged a complaint with the Mangaluru Rural Police, who have since registered a case and launched an investigation.

Be cautious

Always verify the authenticity of financial offers, especially when approached via social media or messaging apps. Avoid clicking on unsolicited links or downloading unverified apps. Stay vigilant to protect your hard-earned money from scammers.

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News Network
December 17,2024

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Prime Minister Narendra Modi Tuesday condoled the death of environmentalist Tulsi Gowda and said she will remain a guiding light for environmental conservation.

In a post on X, he said, "Deeply saddened by the passing of Tulsi Gowda Ji, a revered environmentalist from Karnataka and Padma Awardee. She dedicated her life to nurturing nature, planting thousands of saplings, and conserving our environment."

"She will remain a guiding light for environmental conservation. Her work will continue to inspire generations to protect our planet. Condolences to her family and admirers. Om Shanti," he added.

Tulsi Gowda, the renowned environmentalist and Padma Shri awardee known as the "Vruksha Maate" (Mother of Trees), passed away on Monday at her residence in Karnataka’s Honnali village, Ankola Taluk, Uttara Kannada district. She was 86 and had been suffering from age-related ailments.

Hailing from the Halakki tribal community, Tulsi Gowda dedicated over six decades of her life to environmental conservation, planting and nurturing thousands of trees in Ankola and its surroundings.

Her unparalleled knowledge of plants earned her the title "Encyclopaedia of Plants." She was credited with growing lakhs of saplings and was celebrated for her unique approach to nurturing them, ensuring their survival and growth.

Born in 1944 to a tribal family, Tulsi Gowda developed a deep connection with nature at a young age. She began working at a forest department nursery as a daily wage worker and eventually became a symbol of afforestation.

In 2021, Tulsi Gowda was honored with the prestigious Padma Shri, one of India’s highest civilian awards, in recognition of her immense contributions to afforestation and environmental conservation.

She received the award from former President Ram Nath Kovind, a moment that brought her years of silent work into the national spotlight. Additionally, Dharwad Agricultural University conferred upon her an honorary doctorate for her knowledge and contributions to the environment. She also received the Indira Priyadarshini Vriksha Mitra award and numerous other accolades throughout her lifetime.

 

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