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), Pradhan Mantri Ujja
Modi govt justifies higher taxes on Petrol, Diesel
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Govt justifies higher taxes on petrol and diesel
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Fuel prices soon to score a century
Fuel prices soon to score a century
BySridhar VivanSridhar Vivan / Updated: Jun 16, 2021, 06:00 IST
Per litre
diesel Rs 92.52; fuel dealers face people’s wrath
Bengaluru is all set to score a ‘tonne’ as far as
petrol prices are concerned. On Tuesday, the petrol was sold for Rs 99.63 while diesel for Rs 92.52 per litre.
Petroleum dealers said that at this rate, the city may soon enter into the infamous ‘Rs 100 club’ shortly. The increase in
fuel prices is not only burning the vehicle users’ pocket but it’s also raising the cost of various other products.
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.