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
https://www.localcircles.com/a/press/page/excise-on-petrol-and-diesel#.YYLRO_fuElQ more
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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
Nov 13
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
Nov 09
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
Nov 05
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
Nov 05
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
Nov 04
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
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
Nov 04
