Truth of hike: BJP talks about percentage increase in petrol, diesel prices

What After Decriminalising Homosexuality

What After Decriminalising Homosexuality

Petrol and diesel prices saw a hike for the sixth straight day on Tuesday as oil marketing firms again revised fuel prices across the country. The new rates of petrol and diesel will come into effect from tomorrow morning, orders for the same will be issued later today. Petrol price has risen by Rs 3.65 a litre and diesel by Rs 4.06 per litre - the biggest increase in rates witnessed in any month since the launch of daily price revision in mid-June previous year.

On Monday, opposition parties, led by the Congress, called a nationwide strike against the constant rise of fuel prices and degradation of rupee against United States dollar.

The BJP government faced stiff criticism from the Opposition.

The tax ratio can be raised not by increasing rates but by bringing evaders and non-filers in tax net.

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Offices were opened on time and official work was not affected at the Delhi Secretariat due to Bharat bandh, an official said.

The transporters' body said its units had chose to stage protests across districts. Meanwhile, fuel prices continue to increase. "If taxes are cut, prices will decline significantly".

The Centre now levies a total excise duty of Rs 19.48 per litre of petrol and Rs 15.33 per litre on diesel. Nowhere in the country are the fuel prices as exorbitant as in this Maharashtrian city.

Despite a nationwide bandh on Monday, the surge in fuel prices seen to offer no immediate respite. Unlike the previous governments, the BJP has also failed to cut excise duty whenever worldwide oil prices shoot up.

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In Delhi, the prices of petrol and diesel were both hiked by 14 paise. This led to its excise collections from petro goods more than doubling in last four years - from Rs 99,184 crore in 2014-15 to Rs 2,29,019 crore in 2017-18.

Nearly half of the fuel price is made up of taxes.

The reduction is expected to cause a burden of around Rs 1150 crore on the state exchequer. Government officials had on Monday ruled out a cut in excise duty on petrol, diesel citing revenue loss.

State-owned oil firms had in June a year ago discarded the policy of changing fuel rates on the first and 16th of every month, and resorted to daily price revision instead.

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Now the revision of the rates is notified every morning at 6 am. Here is the case of petrol: from Rs 9.20 a litre it shot up to Rs 19.48 per litre for petrol.

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