Government can take steps this week to relieve petrol, diesel prices
The government will not only depend on the excise duty reduction but also take some other steps.
New Delhi: The government can take any step this week to provide relief to the common man by rising prices of petrol and diesel. Due to the rising prices of crude oil in the international market, prices of petrol, diesel have reached record levels in the country.
Apart from the excise duty,
a senior government official also said that the government will not only depend on the excise duty reduction but also take some more steps. Excise duty is only one quarter of the price of petrol and diesel. However, the officer did not say anything in detail about this
a senior government official also said that the government will not only depend on the excise duty reduction but also take some more steps. Excise duty is only one quarter of the price of petrol and diesel. However, the officer did not say anything in detail about this
At the same time, BJP President Amit Shah also said that Petroleum Minister Dharmendra Pradhan will meet tomorrow's officials of oil companies. The government is working on any formula to reduce the oil prices.
The government is taking the matter of oil prices seriously. Petroleum minister will have a meeting with the officials of the oil companies tomorrow. We are working out a formula to reduce the prices: Amit Shah, BJP President on fuel price hike. pic.twitter.com/e9VoRLPAxS
— ANI (@ANI) May 22, 2018
Petrol and diesel prices, which increased more than Rs 2 in 9 days,
said, "The rising prices of fuels are a crisis situation for the government. In this case, some other measures should also be included. The Ministry of Finance is in discussions with the Petroleum Ministry in this regard. Petroleum companies have increased the price of petrol and diesel in the last one week according to the increase in international market prices. With this increase, petrol in Delhi costs Rs 76.87 and diesel is priced at Rs 68.08 a liter. In the last nine days, the price of petrol was increased by Rs 2.24 and diesel by Rs 2.15 a liter. Earlier, during the Karnataka assembly elections, oil companies did not make any changes in the rates of petrol and diesel daily for 19 days.
said, "The rising prices of fuels are a crisis situation for the government. In this case, some other measures should also be included. The Ministry of Finance is in discussions with the Petroleum Ministry in this regard. Petroleum companies have increased the price of petrol and diesel in the last one week according to the increase in international market prices. With this increase, petrol in Delhi costs Rs 76.87 and diesel is priced at Rs 68.08 a liter. In the last nine days, the price of petrol was increased by Rs 2.24 and diesel by Rs 2.15 a liter. Earlier, during the Karnataka assembly elections, oil companies did not make any changes in the rates of petrol and diesel daily for 19 days.
Although the official refused to tell about the steps on which the government is considering. The official said that while taking any steps, the government must keep in mind its financial mathematics. "Some steps can be taken this week to deal with the problem of rising oil prices."
Excise duty on petrol and diesel The
Central Government imposes a stipulated 19.48 per liter excise duty on petrol, whereas on diesel, there is excise duty of Rs 15.33 a liter. The rate of VAT in states is different. Excise duty rate is set per liter but rates of VAT in states are priced accordingly. Increase in VAT also increases VAT. According to the government, the reduction in excise duty by the loss of one rupee to the exchequer causes a loss of 13,000 crore rupees.
Central Government imposes a stipulated 19.48 per liter excise duty on petrol, whereas on diesel, there is excise duty of Rs 15.33 a liter. The rate of VAT in states is different. Excise duty rate is set per liter but rates of VAT in states are priced accordingly. Increase in VAT also increases VAT. According to the government, the reduction in excise duty by the loss of one rupee to the exchequer causes a loss of 13,000 crore rupees.
VAT on petrol and diesel in Delhi in Delhi, VAT
per liter of petrol was 15.84 per liter in petrol and in Delhi it was 9.68 rupees per liter, but in May it is priced at Rs 16.34 per liter on petrol and Rs 10.02 per liter on diesel in May.
per liter of petrol was 15.84 per liter in petrol and in Delhi it was 9.68 rupees per liter, but in May it is priced at Rs 16.34 per liter on petrol and Rs 10.02 per liter on diesel in May.
Increased excise duty 9 times between November 2014 and January 2016
Earlier , between November 2014 and January 2016, when the international market was running below the level of crude oil, excise duty increased nine times. During this, excise duty on petrol was increased by Rs 11.77 and diesel by Rs 13.47 per liter. This resulted in Rs 2,42,000 crore coming in the fiscal treasury in 2016-17.
Earlier , between November 2014 and January 2016, when the international market was running below the level of crude oil, excise duty increased nine times. During this, excise duty on petrol was increased by Rs 11.77 and diesel by Rs 13.47 per liter. This resulted in Rs 2,42,000 crore coming in the fiscal treasury in 2016-17.
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