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Synopsis The government has justified high level of taxation on auto fuels suggesting that revenue from petroleum sector is important for running various developmental schemes but has refused to acknowledge the role played by higher prices of petrol and diesel in fuelling inflationary pressure on the economy. PTI The government has justified high level of taxation on auto fuels suggesting that revenue from petroleum sector is important for running various developmental schemes but has refused to acknowledge the role played by higher prices of petrol and diesel in fuelling inflationary pressure on the economy. Replying to a question on impact of rising fuel prices on country s economic recovery from the Covid-19 pandemic in the Lok Sabha, minister of petroleum and natural gas Hardeep Singh Puri said that revenue generated by taxation (on petroleum products) is used in various developmental schemes of the Government like Pradhan Mantri Gram Sadak Yojana (PMGSY), Prad ....
Modi govt justifies higher taxes on Petrol, Diesel ummid.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ummid.com Daily Mail and Mail on Sunday newspapers.
Govt justifies higher taxes on petrol and diesel prokerala.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prokerala.com Daily Mail and Mail on Sunday newspapers.
Agri infra cess for whom? It must be used for farmers’ benefit On the economic policy front, it was amply clear that unlike other crises, Covid-19 had a significant impact on demand and supply. India recognised the disruptive impact and had to charter its unique path amidst the dismal projections. As a result of the policy initiatives undertaken by the government, as per the Economic Survey, the country saw a V-shaped recovery. In the backdrop of an unprecedented crisis, the year 2020-21 had been a challenging one on the fiscal front. The shortfall in revenue collection owing to the interruption in economic activity and the additional expenditure requirements to mitigate the fallout of the pandemic on the economy created immense pressure on the available limited fiscal resources. ....
All you wanted to know about Agriculture Infrastructure Development Cess × The Budget for 2021-22 may have refrained from tinkering with your taxes, but it has proposed a new levy Agriculture Infrastructure Development Cess. What is it? Cess is a kind of special-purpose tax which is levied over and above basic tax rates. The purpose of the new AIDC is to raise funds to finance spending on developing agriculture infrastructure. Considering that not much private investment is forthcoming for agriculture, the Centre now seeks to raise a dedicated fund to meet these expenses. In her Budget speech, the Finance Minister proposed AIDC on a small number of items from February 2. While applying this cess though, she has made sure that there will not be additional burden on consumers on most items. ....