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

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News Network
January 22,2025

yellapuraccident.jpg

Yellapura: A devastating accident occurred early Wednesday morning in the Uttara Kannada district of Karnataka, leaving at least 10 people dead and several others critically injured. The tragedy unfolded near the Kageri petrol station in Yellapur when a truck carrying fruits and vegetables plunged into a valley and overturned.

The truck, which was transporting over 40 traders, was en route from Savanuru in Haveri district to Kumta market in Uttara Kannada. Among the passengers were fruit vendors heading to the Yellapura fair to sell their produce. The accident occurred on the Savanur-Hubballi road, as confirmed by M. Narayana, the Superintendent of Police of Uttara Kannada.

“At approximately 5:30 a.m., the truck driver attempted to give way to another vehicle and veered too far to the left, causing the truck to fall into a valley approximately 50 meters deep,” said SP Narayana.

Victims have been identified as:

Fayaz Imam Saab Jamkhandi (45)

Wasim Virullah Mudageri (35)

Ijaz Mustak Mulla (20)

Sadiq Bhasha Farash (30)

Ghulam Hussain Jawali (40)

Imtiaz Mamajafar Mulakeri (36)

Alfaaz Jafar Mandakki (25)

Jilani Abdul Jakhati (25)

Aslam Babuli Benny (24)

Immediate Response

Upon receiving information about the accident, police rushed to the scene and coordinated the rescue operations. The injured were swiftly transported to KIMS Hospital in Hubballi for treatment. Tragically, eight individuals died on the spot, while another succumbed to critical injuries shortly after. The absence of a protective wall on the road in the valley has been highlighted as a contributing factor.

“Many passengers sustained serious injuries, and the death toll could rise,” said police officials. Investigations are ongoing to determine the exact cause of the accident.

Community in Mourning

This tragic incident has left the local community in shock, as families and friends mourn the loss of lives. Authorities are urging caution and have reiterated the need for safety measures on roads in vulnerable areas. Further updates on the condition of the injured are awaited.

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News Network
January 15,2025

The US consulate in Bengaluru will hold its ‘site-dedication ceremony’ on January 17, with officials confirming that the location of the upcoming consulate will be disclosed during the event. Sources indicate that the site could be in either the Central Business District or Whitefield.

While the consulate building is under development, visa services may temporarily begin at the JW Marriott hotel, which currently houses the United States Commercial Service (USCS) office.

Bengaluru has long advocated for the establishment of a US consulate, and with its opening, residents of the city and Karnataka will no longer need to travel to other states for their US visa applications.

It was in January of the previous year that External Affairs Minister S. Jaishankar, during his visit to Bengaluru, expressed his intention to urge the US Ambassador to India to establish a consulate in the city. This move follows the announcement during Prime Minister Modi’s June 2023 visit to the US, where it was revealed that two new US consulates would open in Bengaluru and Ahmedabad, and India would set up a mission in Seattle.

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News Network
January 18,2025

Sullia, Jan 18: In a shocking incident, a man shot his wife dead during a fit of rage over a minor argument and later took his own life by consuming poison. The heartbreaking event unfolded late Friday night in Kodimajalu in Sullia taluk of Dakshina Kannada.

The accused, identified as Ramachandra Gowda alias Chandra (53), used his licensed firearm to commit the crime. His wife, Vinoda (43), tragically lost her life in the incident.

On the fateful night, Ramachandra reportedly started an argument with his family after dinner over a trivial matter. The heated exchange escalated, and in a fit of uncontrollable anger, he allegedly aimed his firearm at his elder son, Prashanth. Vinoda intervened to prevent the attack, attempting to wrest the gun from Ramachandra.

However, enraged by her intervention, Ramachandra turned the gun on Vinoda and shot her, leaving her dead on the spot. Overwhelmed by the gravity of his actions, he consumed acid, commonly used for rubber processing, to end his own life.

Based on Prashanth’s statement, a case has been registered at the Sullia police station. The tragic sequence of events has left the village in shock and mourning, raising concerns about the unchecked escalation of domestic disputes.

This devastating incident underscores the importance of addressing domestic tensions before they spiral into irreversible tragedies.

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