Congrats circles on fuel excise cut

Government has heard our long pending demand since a year ago. From tomorrow the excise duty levied on petrol and diesel will be reduced by Rs 5 and Rs 10 respectively. We must do a fresh survey asap and demand that states also reduce vat and give much needed relief to common citizen. Congrats for the win and lest make state relief happen now.

https://www.localcircles.com/a/press/page/excise-on-petrol-and-diesel#.YYLRO_fuElQ more  

View all 14 comments Below 14 comments
Getting credit for anything sounds nice and being a Circle member I must feel happy like other members in claiming that the government have, at last, given a hearing to our demand for a cut in the excise duty of petrol and diesel. But we are forgetting that the the assembly elections in as many as five states are due in the near future and continued rise in prices of these products have caused resentment in people's minds from all sections of our society. Even the government is being accused of recent price rise of assential commodities due to high fuel prices. Under such a situation the government had no other option but to create a favourable atmosphere by making a partial cut in its excise duty. But we must remember that all the state governments are charging VAT on petroleum ranging from 30% to 40%, much higher than Excise and unless VAT is reduced, people can't expect much relief in this regard. more  
The oil Bonds worth Rs.1.44 lac crore were issued by the Govt. headed by an economist and Mr. P. Chidambram as FM during UPA rule. This was clearly unwise decision. The present Govt. has paid interest on these bonds and the principal amount stands as it is still. more  
The reduction of excise duty is not a favour. Government has increased the excise duties during corona period at higher rate to meet the deteriorating financial condition of the government, as a result there is wide spread increase in the market rate of all products. As the adverse Corona condition has been eased, the excise duty should be restored to allow the economy to come to normal condition. more  
Aim should be in replacing cars having internal combustion engines with electric, since for far too long have governments played politics with fossil fuel subsidies. Polluting fuels such as diesel was granted huge subsidies paid by the tax payer, while incentivising car manufacturers to switch to making their vehicles run on diesel. Bad welfarism would be how one may describe this as ultimately subsidy got transferred into the wealth of such beneficiaries, who are already well off. more  
Taxes were increased exponentially a few years ago. As the crude oil prices were soft, the pump price stayed almost constant for a number of years, while earning good revenue to teh government. With international oil prices hardening now, this is not the last of it. The government must move out of ad-valorem tax rates and keep it a percentage of OMC base price. This will ensure that prices stay fair and the government does not have to resort to knee-jerk actions. Hopefully, they will eventually settle for a fair tax instead of discriminatory taxes and then disproportionate cuts. Petrol, in fact is a much cleaner fuel than Diesel. Across the globe, it is costlier than Petrol in most countries. Real economics and logic must prevail. Unnecessary subsidy as well as obscene taxation are both counter-productive. more  
If you have a look at the cost of governance,
wasteful expenditure, freebies, you will find that
Central & State governments have little room
for drastic reduction in duties/taxes which are
highest in the developed and developing countries. Unless the governments curtail
the expenses, we should not expect big
reduction in taxes. The CMs of smaller
States are having own planes to travel
by all VIPs. A distance of 200 kms can be
covered by car/train comfortably. As such,
no State should have its own planes. In
case of emergency, it can be hired. more  
Post a Comment

Related Posts

    • Junk consumption soaring only bad to follow

      Varun Beverages sold 480 Cr Litres of Pepsi and other Beverages in FY23 Dominos India sold 6.7 cr to 7.83 cr Pizzas in FY23 Pizza hut India (Sapphire) sold abou...

      By Sudesh Rai
      /
    • Are we going to have a rabies and dog bit epidemic

      LocalCircles Manager and members are doing excellent work in sensitising the Government to take dog bite menace seriously and on the other hand we have officers like District Magistrate Noida who a...

      By Radha Puri
      /
    • Banking difficulties of people

      Thrilled to see LocalCircles banking difficulties survey in multiple english hindi news papers yesterday.

      By Shailesh Deshmukh
      /
    • Appeasing minorities by giving vehicle subsidies

      Is a really wrong policy that is being deployed bh Karnataka Government. The only way such subsidies must be given is based on economic status (basis tax returns) and not caste. We all r...

      By SN Mittal
      /
    • Kudos LocalCircles

      Great work on bank malpractices and escalating this issue to RBI. All members who have a loan need to save the attached notification in their mobile/computer. Your bank will now have to...

      By Shikha Jain
      /
    • Need safety standards for commercial public events

      A lot of women who went to the AR Rahman concert this weekend had to face horror. Many, i mean a lot were groped and assaulted.

      By Sarita S
      /
    • High costs of medical education

      It is costing anywhere between 1.5 crores to 4 crores for a medical specialisation MD degree. How many people in middle class have this kind of money in their banks which means only chi...

      By Sarita Ravichandran
      /
    • G-20 India - Declarations

      Attached for all those who are interested. This circle has such knowledgeable people. We should discuss how these broad areas of consensus can be translated into real areas of actions on the ground

      By Ashima Gupta
      /
    • Medicine Side Effects information to consumer

      Both the news papers I receive here in Noida have the localcircles survey published on the unknown side effects of medicines

      By RN Chopra
      /
    • Fantastic survey by LocalCircles on airline seat charges

      Yesterday someone in my mom’s school group shared the LocalCircles survey in charges for seats in flights.

      By Radha Puri
      /
    • 10 years gone by

      In May 2014 the price of petrol was ₹ 71.41 and now it is ₹101.94 Price of diesel was ₹ 55.49 per litre in May 2014 and now it is ₹ 87.98 per litre Crude O...

      By Ruchika L Maheshwari
      /
Share
Enter your email and mobile number and we will send you the instructions

Note - The email can sometime gets delivered to the spam folder, so the instruction will be send to your mobile as well

All My Circles
Invite to
(Maximum 500 email ids allowed.)