Petrol up by 7.5 per litre

Discussion in 'Economy & Infrastructure' started by Yusuf, May 23, 2012.

  1. Yusuf

    Yusuf GUARDIAN Administrator

    Joined:
    Mar 24, 2009
    Messages:
    24,274
    Likes Received:
    11,287
    Location:
    BANGalore
    Breaking, petrol price up by 7.5. 80/ltr now in bangalore.
     
  2.  
  3. Iamanidiot

    Iamanidiot Elite Member Elite Member

    Joined:
    Dec 21, 2009
    Messages:
    5,326
    Likes Received:
    1,493
    Didi's Tantrum will save the day
     
  4. sehwag1830

    sehwag1830 Tihar Jail Banned

    Joined:
    Dec 23, 2011
    Messages:
    495
    Likes Received:
    275
    crude oil price today = $108.41
    1$ = Rs 56
    1 barrel =158.5 litres
    Cost of 1 litre = Rs 38.30
    Refining margin = Rs 4
    Cost in Delhi = Rs 73.14

    Tax per litre =Rs 30.84

    Keep voting khangress

    They need money for Lahul to be elected as PM
     
    SPIEZ likes this.
  5. Yusuf

    Yusuf GUARDIAN Administrator

    Joined:
    Mar 24, 2009
    Messages:
    24,274
    Likes Received:
    11,287
    Location:
    BANGalore
    Local sales tax is 25-30% which is state govt jurisdiction
     
  6. sehwag1830

    sehwag1830 Tihar Jail Banned

    Joined:
    Dec 23, 2011
    Messages:
    495
    Likes Received:
    275
    ^^^
    What is India's gross tax collection ? Central + state .
    Do you know ? Just asking and see if it is accordance with developing nations.
     
  7. Yusuf

    Yusuf GUARDIAN Administrator

    Joined:
    Mar 24, 2009
    Messages:
    24,274
    Likes Received:
    11,287
    Location:
    BANGalore
    Then don't curse the government. Petrol is a source of major major funds for them. It is the case world over.
     
  8. sehwag1830

    sehwag1830 Tihar Jail Banned

    Joined:
    Dec 23, 2011
    Messages:
    495
    Likes Received:
    275
    And India has roads and electricity comparable to other countries ?
     
  9. sob

    sob Moderator Moderator

    Joined:
    May 4, 2009
    Messages:
    6,359
    Likes Received:
    3,665
    Location:
    New Delhi
    Tomorrow morning the Govt. will roll back the prices by about Rs. 2 then they will start shouting from the rooftops that they have reduced the price of petrol because of concern for the aam aadmi.
     
  10. sob

    sob Moderator Moderator

    Joined:
    May 4, 2009
    Messages:
    6,359
    Likes Received:
    3,665
    Location:
    New Delhi
    Goa has shown the way. The other state Govts. should also follow, the central Govt. cannot take the entire burden
     
  11. Yusuf

    Yusuf GUARDIAN Administrator

    Joined:
    Mar 24, 2009
    Messages:
    24,274
    Likes Received:
    11,287
    Location:
    BANGalore
    Seriously you are crazy
     
  12. sehwag1830

    sehwag1830 Tihar Jail Banned

    Joined:
    Dec 23, 2011
    Messages:
    495
    Likes Received:
    275
    So what does Govt. do of the tax money ?
     
  13. Bangalorean

    Bangalorean Stars and Ambassadors Stars and Ambassadors

    Joined:
    Nov 28, 2010
    Messages:
    6,207
    Likes Received:
    6,497
    Sehwag, what exactly do you expect? The government should stop collecting tax? Maybe they should also stop collecting income tax and sales tax? After all in your own words, "So what does Govt. do of the tax money ?"
     
    Tronic likes this.
  14. rock127

    rock127 Maulana Rockullah Senior Member

    Joined:
    Aug 12, 2009
    Messages:
    8,943
    Likes Received:
    10,313
    Location:
    India
    Govt is fast tracking its dismissal by doing such a hike.

    Trivia : How many times have the petrol rates hiked since this current govt took control?
     
  15. sehwag1830

    sehwag1830 Tihar Jail Banned

    Joined:
    Dec 23, 2011
    Messages:
    495
    Likes Received:
    275
    Farm tax, GST and reduce tax on petrol
     
  16. Bangalorean

    Bangalorean Stars and Ambassadors Stars and Ambassadors

    Joined:
    Nov 28, 2010
    Messages:
    6,207
    Likes Received:
    6,497
    Farm tax? Can you elaborate?

    GST? Your much-hated "khangress", which you abuse in every post, is trying to get GST passed. The various states are protesting. I am not a congress lover myself, but I am just trying to show you the flaws in your arguments.

    Reduce tax? By how much? 10 rupees? What will you do when the rupee falls to 70 rupees per dollar? After all, that is what you were vehemently arguing for in the other thread, weren't you?
     
    jackhammer2 and Tronic like this.
  17. sehwag1830

    sehwag1830 Tihar Jail Banned

    Joined:
    Dec 23, 2011
    Messages:
    495
    Likes Received:
    275
    Then fine have a tax of Rs 30 on commodity worth Rs 38.

    And btw the Re is sliding due to khangress policy of not giving importance to manufacturing. What did Khangress do of the 23 billion $ gained from 3G auction ? Spent on NREGA
     
  18. Bangalorean

    Bangalorean Stars and Ambassadors Stars and Ambassadors

    Joined:
    Nov 28, 2010
    Messages:
    6,207
    Likes Received:
    6,497
    I agree that manufacturing is the key. We will be doomed if we don't get a good manufacturing policy in place, soon. And that is what we were saying on the other thread - the solution to India's problems is massive manufacturing. The kind of industry that can absorb hundreds of thousands of semi-literate people in India and provide gainful employment to them. That is the way forward.

    Of course, things like labour reform and other reforms will be blocked by India's crop of populist politicians. More than Congress, it is useless people like Mamata who need to be blamed.

    NREGA is harmful simply because the implementation is so terrible. Making people work, building assets for the nation, is not a bad thing. For example, NREGA could be used to have villagers build pucca roads between villages, by themselves. Throughout the country. The issue is with the implementation. Shoddy implementation, highly corrupt, and very improper monitoring or feedback.
     
    sehwag1830 and jackhammer2 like this.
  19. sukhish

    sukhish Senior Member Senior Member

    Joined:
    Dec 30, 2009
    Messages:
    1,091
    Likes Received:
    262
    fuel tax rationalization is important and will have to done in phases. reforms will have to be done, there is no alternatives. just like in 1991 they were
    not popular, even now they will be unpopular. but they have to do it. mamta will keep shouting no matter what, she wants a bengal package, SP wants help for UP and similarly punjab and kerla. eveybody will keep shouting, but GoI will not fall.
     
  20. Yusuf

    Yusuf GUARDIAN Administrator

    Joined:
    Mar 24, 2009
    Messages:
    24,274
    Likes Received:
    11,287
    Location:
    BANGalore
    Increase in petrol prices an the tax on it increases the income for the govt. add to this, the ever increasing demand for petrol with the growing number of vehicles means the revenue from petrol only increases.

    At some stage both central an state government has to decide how much is good enough and fix a tax on a liter of petrol. Be it 15 or 20 or 25. That is the only way to reduce petrol prices. Get rid of all other tax including import duty, excise, octroi, entry tax.
     
  21. prakashbioc

    prakashbioc Regular Member

    Joined:
    Aug 28, 2011
    Messages:
    109
    Likes Received:
    40
    Do you know whats is the petrol price in Pakistan and Bangladesh? why not India?
     

Share This Page