Govt rules out excise duty cut as fuel prices hit fresh high
11 September, 2018, 18:11 | Author: Frank Williams
Addressing the Legislative Assembly, the AP chief minister N Chandrababu Naidu accused the BJP government at the centre for not considering to reduce fuel prices despite earning large sums through various taxes. Nowhere in the country are the fuel prices as exorbitant as in this Maharashtrian city. In Mumbai, a litre of petrol costs Rs 87.77 and diesel comes for Rs 76.98, the notification said.
On March 1 this year, the state had secured a litre of petrol for Rs 54.60. He added that a one Rupee per litre cut in tax would result in revenues being hit by Rs 30,000 crore on an annualised basis. Propelled by a rise in global crude oil prices and a weakening rupee, the price of petrol in Delhi is now touching Rs 80 while diesel has crossed the Rs 72 mark.
The Centre was hoodwinking the people saying that the State governments would have to cut their taxes.
In fact, top officials in the Finance Ministry have ruled out any cut in levies in the near future claiming "no scope for a cut in excise duty by the Centre and Value-Added Tax charged by the states".
Sporadic incidents of violence were reported on Monday during a Congress-led opposition's Bharat Bandh against spiralling fuel prices that disrupted normal life mainly in Bihar, Kerala, Karnataka, Assam and Odisha. The percentage increase was 20.5. Petrol per litre today was priced at Rs 80.73 in Delhi, Rs 83.61 in Kolkata, Rs 88.12 in Mumbai and Rs 83.91 in Chennai. Diesel, too, is not far behind. According to petroleum dealers in the State, compared to Friday's price, petrol on Saturday cost 41 paise more while diesel price rose 48 paise a litre.
Former prime minister Manmohan Singh Monday said it was time for all opposition parties to shed their differences and move forward unitedly "to save" sovereignty and democracy in the country.
"60% of our work is heavily reliant on fuel, because of government's taxation policy, we are being forced to live in losses." says Naveen Kumar Gupta, Secretary General of the All India Motor Transport Congress (AIMTC).
Welcoming the Delhi High Court's order to dismiss pleas of the Congress leaders Sonia Gandhi and Rahul Gandhi challenging the reopening of their tax assessments for 2011-12, the BJP's national spokesperson, Sambit Patra, said it was a "victory of common man" and "exposes the real face of the Gandhi family".
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