Why India's economy needs cher petrol, diesel
NEW DELHI: Fuel prices went up again on Tuesday after a two-day pause. Petrol and diesel prices have been raised by over Rs 7 a litre this year.
This has pushed petrol price to the highest level in Southeast Asia and past the Rs 100-mark in some places in India.
About 60% of the petrol price and 54% of diesel is made of state and central taxes.
The Centre has refused to cut excise duty it had cumulatively raised by Rs 13 a litre on petrol and Rs 16 on diesel last year, but states have taken the lead with tax cuts to offer relief to consumers.
Wall Street brokerage Bank of America Securities said in a ne on Tuesday that a 10% spike in oil prices can push up retail inflation by 0.23%, badly hurting consumption at a time when the economy is just about recovering.
The article is a sham! The writer has no clue that for e economy like ours petrol is a luxury. Tax gathered from fuel is used for all gt. sponsored schemes.
It should be more costly...so that people refrain from wasting and using unnecessarily where they can (better they should) go by walking..
The real issue is not the Price of Petrol but wng an ion by BJP, Modiji and BJP knows they have ruined the country economy
Why don't you encourage Electric vehicles, now we have good options .. Ather, Hero, Tata Nexons ... and more. Why spend $25 billion dollars on crude oil purchases?
为什么不推广电动汽车，现在我们有很好的选择，Ather, Hero, Tata Nexons等等。为什么要花250亿美元购买原油?
It has become a fashion to scold congress but modi is proving to be worst.
We are bhakts and we are rich we do not mind paying 200 rupees per litre.We love modi and we love bjp,congress is corrupt, after all its just few extra rupees,no big deal.
This is ridiculous, on one side say sab ka saath, sab ka vishwas...on the other side, increase tax torture people by pushing to deep down without even giving alternatives to the common man!
Do you honestly think BJP does not know this fact? They just wanted to create more beggars to create solid ve bank..
MODI NEEDS MONEY FOR ELECTION EXPENSES... SO GUYS CALM DOWN... A PERSON WHO RE-ELECTS A FOOL IS A FOOL... FIRST TIME IS MISTAKE AND SECOND TIME IS FOOLISHNESS... HE MADE FOOL OUT OF US AFTER FIRST ELECTION BY PROMISING TO DEPOSIT 15 LAKHS IN EACH ACCOUNT...
Centre's tax on petrol in 2014 was 14 percent or 10.39 rupee per liter and today it is 38 percent or 32.98 per liter of petrol. why not Gt bringing fuel tax to 2014 level?
Tax and excise duties alone cannot be income of a go nment. will only anger the masses and this go nment doesn't understand it.
Price of crude has not gone up as much as petrol prices. Gt is fleecing people.
Please reduce the prices of petrol and diesel, kee in mind India's middle class and poor people.
Saleh Abdul Pasha
man who never haved famly never know how difficult it is to raise big famly. muddy saab is loser
Get MMS Back !!
Crude oil hit a high of $120 per barrel of oil during MMS. People barely noticed. And bjp was demanding petrol price be reduced.
Wait till announcement of ion dates for West Bengal for reductions in fuel prices.....