Petrol prices are breaking all records. On Saturday (July 17) in Balaghat, Madhya Pradesh, people bought a liter of petrol by paying more than Rs 112. If you convert dollars to rupees, then at present in New York one liter of petrol i.e. gasoline is available for 60 to 62 rupees. In this way, petrol in Balaghat is almost twice as expensive as in New York. Even in Pakistan, petrol is being sold to them at half the price. It is worth noting that these five reasons are responsible for the high prices of petrol and diesel in India.
If we talk about Delhi, then on one liter of petrol, the central government charges 33-34 percent excise duty and the state government charges up to 23 percent VAT. The central government charges 35.66 percent and the state government 14.62 percent on diesel. That is, 55 percent of petrol prices and 50 percent of diesel prices include tax.
In the last six years, the income of the Modi government from petrol and diesel has increased by 307 percent. If the excise duty on petrol and diesel is increased by even one rupee, then the annual income of the government increases by Rs 14,000 crore.
Data from the Ministry of Petroleum shows that state governments earned more than Rs 2 lakh crore in 2019-20 and Rs 1.35 lakh crore in April-December 2020-21 from VAT on petroleum products. At the same time, the central government earned revenue of Rs 2.39 lakh crore in 2019-20 and Rs 3.89 lakh crore in 2020-21 from excise duty on petroleum products.
