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Centre earned more than 8 lakh crore from fuel taxes
The excise duty on petrol rose from Rs 19.48 per litre as on October 5, 2018 to Rs 27.90 a litre as on November 4, 2021
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Cement prices have started rising, thanks to higher fuel prices
All-India average prices have gone up by 7-8% to Rs 384-386 per 50 kg in October
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WPI inflation increased to 12.54% in October
During the month under review, the crude petroleum inflation was 80.57% as against 71.86% in September
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Reduction is fine, but not permanent
A permanent solution to the runaway prices is possible only if petrol and diesel are brought under GST.
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Tax cut on fuel can be Rs 35,000-cr consumption boost
The estimated loss to the exchequer will remain in consumers’ pockets
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Petrol-diesel prices: 9 points of suffering
As the propensity to milk petrol and diesel for revenue grew, Indians had to pay a retail price that was a huge mark up compared to the price of crude
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Taxes blighting the common man
There is an urgent need to reduce burden of taxes, especially on fuel, to provide relief to citizens battling the debilitating impact of Covid-19.
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Electric vehicles: Invest in the idea
Anyone buying an electric vehicle would ask for charging points and service centres along the road.
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Oil bonds not sole reason for high petrol and diesel prices
Practice of future consumers subsidising current ones may be iniquitous (if they are not the same) but is useful to make difficult reforms acceptable
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Fuel prices & oil bonds: Convenience of false equivalences
Ultimately, relief will have to come from a cut in VAT given the limited expenditure by states in the Covid year.
