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  • Category: Miscellaneous

    Government reduces taxes on petrol and diesel

    Some days ago (most probably last to last week), there was a heated debate in the Forum section of ISC on the issue of high rate of excise duty on petrol and diesel, Some Members of ISC criticised the Government for high rate of duty imposed on petrol and diesel.

    Well, the Government has listened to the plea of the common people. Today the Government has cut the excise duty on petrol and diesel by Rs. 2/- @ litre to protect the retail consumers of the country from higher crude oil prices in the international market.

    I hope now common people will be genuinely happy and the critics will be more angry. Opinion of the Members of ISC is solicited in this regard.
  • #610611
    I am happy to learn that Government of India graciously reduced the excise duty by Rs 2/ on petrol and diesel. This step was taken keeping in view the coming elections. The common man was fleeced for three and half years. The excise duty which was Rs 9.48/lt when the NDA Government took charge and was raised to Rs 21.48/lt within this period. The crude oil price was about $130/barrel in April 2014 has come down drastically and it is $ 50.34/barrel now. It went down to as low as $ 28/barrel in January 2016. I am very happy that the Government thought about the common man after three and half years.
    " Be Good and Do Good "

  • #610612
    Glad to hear the reduction in the excise duty. This is apparently to counter inflation (not sure how). Crude oil prices are predicted to go down due to oversupply from OPEC region although US supply is still down after the recent hurricanes. For years in Banglore, we used to pay cess (to generate funds for the metro trains). Some states (Maharastra) pay drought cess. Around two weeks back, Congress had planned/demanded a white paper on fuel taxes. Whatever is the reason, if it helps us (me too), I'm happy.

  • #610623
    It is good to hear that the rate on petrol and diesel is getting reduced by Rs. 2/-. It is a relief to the common man. Really a good initiative by the government. It is a reduction in the tax. Basin on the crude price the variation in the price will continue on daily basis. There is no change in that practice. The oil companies can decrease the rate if there is a reduction in raw material cost. Government's interference is not there. The state governments will also charge some taxes on this fuel. If that also comes down, we will get this oils even cheap. Anyhow, We should be happy for this. The transportation charges may come down because of this reduction.
    drrao
    always confident

  • #610634
    I am happy that the government has reduced Rs 2 on petrol and diesel. But than reducing the price it's better people learn how to save petrol or diesel. I find many don't switch their vehicle in signal or when talking on the road. For a long run, the vehicle will be in on condition only. It's better we learn that first instead of blaming the government.

  • #610642
    I will be happy only when the petrol price comes down to Rs 50 per litre. My Padmini being old consumes lot of petrol that I find it difficult to feed her. Will it happen soon?
    No life without Sun

  • #610659
    Mr. Sun it would be dream come true if it comes down to Rs 50 per litre.

  • #610665
    When I put the petrol at this morning 7 am, there was no respite and in fact the petrol rates were marginally increased as I could get 1.99 points of petrol for 150 rupees. Yesterday I could get 2.01 points for the same amount. If the author mention is correct, then we may get the benefits of reduced rates only next day ie tomorrow. Nevertheless over the past few days nearly 8 rupees has been increased and this marginal cut of excise duty wont benefit that much as the state governments have their own say on petrol taxes in every state and thus the reduction would be farce and far from reality.
    K Mohan
    'Idhuvum Kadandhu Pogum "
    Even this challenging situation would ease

  • #610725
    A very big festival is approaching within few days. This festival has more importance than Puja, Dassera and Dipawali for the ruling party. I am talking of Gujrat Assembly Elections in December.

    All of a sudden, the central govt. reduced the excise duty on Petrol and Diesel by Rs. 2/-. Now the Finance minister has appealed the state govts. to reduce the VAT by 5%. Now the govt. is talking of common man's problem and increase in inflation owing to high Petrol and Diesel prices. I saw the same finance minister adamantly denying any cut in excise duty levied on these products and asking congress run states to reduce the VAT levied in their states.

    Probably, The govt. has realised the increasing resentment over this pricing pattern. I think the Gujrat Election factor is powerful. Anyway, I am happy because I have to purchase petrol under compulsion. Whatever, the govt. at last (after three years-not a long time) realised that these products are used by common man and farmers. I am expecting more cuts on Petrol and Diesl prices owing to the Gujrat Election effect. Happy Gujrat Elections!

  • #610726
    Mark my words. Some more sops will come in the coming year, just for appeasement of the voters.
    " Be Good and Do Good "

  • #610727
    Good news! Mark the words: "Appeasement of voters''. Thankfully not appeasement of a particular community.
    Caution: Explosive. Handle with care.

  • #610745
    The polarisation of the country is almost over on religious basis. There is not much necessity to appease any other minority community. The BJPand RSS combine wanted to capture the North Eastern States by hook or crook. They almost succeeded. Coming to the south, they have a chance only in Karnataka and nowhere else.
    " Be Good and Do Good "

  • #610746

    " Be Good and Do Good "

  • #610757
    Nice to hear about all the goodies doled out to us before elections. Every party has done it, it's like a dangling carrot and most fizzle out in due time. Why does the taxpayer always needs to be the scapegoat for all the schemes - IT tax, Vat tax, GST tax passed on to the consumers & we tax-payers demand a bill, cess for many things, It looks like everyone is maintaining their margins (wholesale dealers, suppliers etc ) and finally the consumer gets the short end of the stick.

  • #610786
    Today I was surprised to have some extra petrol for the same money I used to put the petrol. For example today I got the petrol of 2.07 ml for paying 150 rupees and that means 0.8 points has been increased.
    K Mohan
    'Idhuvum Kadandhu Pogum "
    Even this challenging situation would ease

  • #610791
    Mr. Mohan: Common people like you and me may be happy due to tax cut on petrol and diesel. But some extra-ordinary may not find this palatable. They are trying to find opportunity to criticize the Government when the tax is cut. Only two weeks ago, there was a Forum discussion on why tax is not being reduced on petrol and diesel.
    Caution: Explosive. Handle with care.


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