The central government is facing a religious crisis over record petrol prices, but these four states have given relief to consumers from the rising prices of petrol. However, the share has nothing to do with rising crude oil prices and these states have reduced taxes.
West Bengal was also included in the count of states that reduced tax on petrol. Elections are going to be held here. The state government has reduced VAT of 1 rupee on petrol and diesel here. VAT on petrol and diesel was first reduced by Rajasthan. VAT in Rajasthan was increased from 38% to 36% on 29 January.
Assam also reduced tax by Rs 5 on 12 February. Elections are going to be held here too. These five rupees were spent in the state to fight Kovid-19 in the middle of the year. Meghalaya gave the most relief. Here the state government reduced petrol by Rs 7.40 and on diesel by Rs 7.10.
So far, the center has refused to cut the excise duty. The central government has increased duty by Rs 13 on petrol and Rs 16 on diesel. So far, the center has refused to cut the excise duty. The central government has increased duty by Rs 13 on petrol and Rs 16 on diesel. Between March and May 2020, India’s crude oil procurement cost came to $ 19.9 per barrel because of the lockdown caused by the Corona epidemic.
Petroleum Minister Dharmendra Pradhan said that the decision of the Organization of Oil Producing Countries (OPEC) is expected to stabilize oil prices in the coming days. OPEC has decided to increase crude oil production. These production will increase from January.
Finance Minister Nirmala Sitharaman made a big statement about the rising prices of petrol and diesel and said that this situation is a religious crisis for the government. Used to be. He said that this is a regrettable issue and apart from the reduction in prices, no answer can satisfy the people. Both the Center and the state should talk to bring down the retail fuel price to a reasonable level for consumers.
This is how the rate of petrol and diesel increases
After adding excise duty, dealer commission and other things to the price of petrol and diesel, its price almost doubles. If excluding the excise duty of the Central Government and the VAT of the State Governments, then the rate of diesel and petrol would be around 27 rupees a liter, but both the Central or the State Government, can not remove the tax at any cost. Because a large part of the revenue comes from here. This money leads to growth.