Petrol, Diesel Rate Hiked Day After Centre Raises Excise Duty, Infra Cess

Taxes on petrol and diesel, which account for more than a third of retail fuel prices, are one of the biggest sources of income for the government.

Petrol and diesel rates were revised across the country on Saturday, a day after Finance Minister Nirmala Sitharaman, in her 2019-20 Budget, proposed to increase excise duty and road cess of Rs 1 per litre each on the fuel.

Petrol rates have been increased by Rs 2.45 per litre while Diesel will now cost Rs 2.36 more for a litre. Following the hike,a litre of petrol will now cost 72.96 per litre in Delhi, while diesel will be sold at 66.69 per litre in the national capital. In Mumbai, petrol is being sold at Rs 78.57 while in Kolkata it is retailing at Rs 75.15 per litre.

The additional duty and cess on petrol and diesel will lead to a significant jump in revenue for the government, which is looking to contain its fiscal deficit to 3.3 per cent of GDP this year

Crude prices have softened from their highs. This gives me room to review excise duty and cess on petrol and diesel. I propose to increase special additional excise duty and road and infrastructure cess each one by 1 rupee a litre on petrol and diesel," Ms Sitharaman had said while announcing additional duty and cess on petrol and diesel. The finance minister, however, dismissed suggestions that levies on petrol and diesel will fuel inflation, saying it was aimed at meeting public funding needs without hurting individual taxpayers and was also a step to move away from fossil fuels to electric vehicles.

Taxes on petrol and diesel, which account for more than a third of retail fuel prices, are one of the biggest sources of income for the government.

Usually, duties have been cut when global crude prices increased. But in recent years, the government has raised excise duty even when global prices fell.

In October last year, the government had to cut down on excise on fuel after a record, unrelenting rise in crude prices. The Centre also asked the state governments to match the cut. All BJP-ruled states had complied.

Comments

गरुड़ पुराण कथा और सार – Garud Puran in Hindi

गरुड़ पुराण कथा और सार – Garud Puran in Hindi गरुड़ पुराण कथा – Garud Puran in Hindi गरुड़ पुराण हिन्दू धर्म के प्रसिद्ध वेद पुराण में से एक है। वैष्णव सम्प्रदाय से सम्बन्धित गरुण पुराण हिन्दू धर्म में मृत्यु के बाद सद्गति प्रदान करने वाला माना जाता है। इसलिये सनातन हिन्दू धर्म में मृत्यु के बाद ‘गरुड पुराण’ के श्रवण का प्रावधान है। इस पुराण के अधिष्ठातृ देव भगवान विष्णु हैं। अठारह पुराणों में ‘गरुड़ महापुराण’ का अपना एक विशेष महत्व है। क्योंकि इसके देव स्वयं विष्णु माने जाते हैं, इसीलिए यह वैष्णव पुराण है। गरुड़ पुराण के अनुसार हमारे कर्मों का फल हमें हमारे जीवन में तो मिलता ही है, परंतु मरने के बाद भी कार्यों का अच्छा-बुरा फल मिलता है। इसी वजह से इस ज्ञान को प्राप्त करने के लिए घर के किसी सदस्य की मृत्यु के बाद का अवसर निर्धारित किया गया, ताकि उस समय हम जन्म-मृत्यु से जुड़े सभी सत्य जान सके और मृत्यु वश बिछडऩे वाले सदस्य का दुख कम हो सके। भगवान विष्णु की भक्ति | Devotion to Lord Vishnu वास्तविक तथ्य यह है कि ‘गरुड़ पुराण’ में भगवान विष्णु ...

What's an eSIM, how it works and why it's important to you

What's an eSIM, how it works and why it's important to you In recent weeks Google and Apple brought the eSIM into the spotlight by including it within their latest product launches, the Google Pixel 2, Google Pixel 2 XL and the Apple Watch Series 3 with Cellular. The eSIM gives us an improved and more secure customer experience, better designed devices, opens up new market opportunities for operators and enables entire new categories of connected devices. Let's explore this baby in a little more detail. Please bear with us for the next few paragraphs, as we look back in time. SIM (Subscriber Identity Module) cards store network-specific information used to authenticate and identify subscribers on a cellular network and for the last 27 years have consisted of a physical card containing the chip which has to be inserted into the phone. You may or may not remember, but in 1991, the SIM card that you inserted into your phone was the size of a credit card...

What is different Types of Switches – Construction, Working & Applications of Switches

Types of Switches – Construction, Working & Applications of Switches Different Types of Electrical & Mechanical Switches Table of Contents [Hide] 1 What is a Switch? 2 Types of Switches 3 Types of Mechanical Switches 3.1 SPST (Single Pole Single Through) 3.2 SPDT (Single Pole Double Throw) 3.3 DPST (Double Pole, Single Throw) 3.4 DPDT (Double Pole Double Throw) 3.5 2P6T (Two Pole, Six Throw) 3.6 Intermediate Switch 4 Types of Latch and Momentary Operation Switches 4.1 Push Buttons Switch 4.2 Toggle Switch 5 Electrical and Electronic Switches 5.1 Transistor as a switch: 5.1.1 Typical Circuit of Transistor as a Switch: 5.2 Mosfet As a Switch: 5.3 Relay as a Switch What is a Switch? In electrical and electronic system, a switch is a device, which can make or break an electrical circuit automatically...

Pradhan

Search This Blog