Congress: hike in excise duty on petrol, diesel, says govt should reduce rates

Congress’ senior spokesperson Ajay Maken mentioned the federal government should reduce the rates of petrol, diesel and LPG

New Delhi: The Congress on Saturday hit out on the authorities over the hike in excise duty on petrol and diesel, demanding that the advantage of decreased worldwide crude oil costs should be handed on to the folks.

He mentioned the Congress will strongly increase the difficulty each inside and out of doors Parliament to democratically strain the federal government to move on the advantage of low worldwide crude oil costs to the folks.

Ajay Maken

The authorities on Saturday hiked excise duty on petrol and diesel by a steep Rs Three per litre every to garner about Rs 39,000 crore further income. In 2014-15 too, the Centre had not handed on to the general public the beneficial properties arising from the hunch in worldwide oil costs. Industry officersnonethelessmentioned retail costs of petrol and diesel won’t be impacted by the tax adjustments as state-owned oil corporations have adjusted them towards the latest fall in oil costs and the probable pattern in the close to future.

Maken mentioned the overall incidence of excise duty on petrol has risen to Rs 22.98 per litre and that on diesel to Rs 18.83 per litre. The tax on petrol was Rs 9.48 per litre when the Modi authorities took workplace in 2014 and that on diesel was Rs 3.56 a litre, Maken mentionedincluding that the central excise duty has been hiked greater than a dozen instances because the Bharatiya Janata Party (BJP) got here to energy.

“The Modi-Shah government has looted the people by increasing excise duties and huge taxes on petroleum products and did not bring this under GST despite the consistent demand of Congress,” he mentioned.

“The ill-directed anti-people policies of the BJP government are responsible for the high prices of petrol, diesel and LPG despite crude oil consistently remaining down to less than 50 per cent for the last six years,” Maken mentioned.

The Congress calls for that the advantage of decreased worldwide crude oil costs should be forwarded to the folks and the rates of petrol, diesel and LPG be decreased by no less than 35-40 per cent, Maken mentionedincluding that petrol and diesel should be introduced beneath the GST.

The Congress additionally demanded that the hike in excise duty/customs duty affected by the Modi authorities since May 2014 on petroleum merchandise should be withdrawn instantly till it’s introduced beneath the GST regime.

Member of the Prime Minister’s Economic Advisory Board Nilesh Shah has himself conceded that the federal government has earned a revenue of Rs 3.four lakh crores by not passing on the advantages of decreased oil costs to the patron, Maken mentioned.

International crude oil costs are at current the bottom in the final 15 years, right down to USD 35-38 per barrel, but petrol and diesel costs are skyrocketing whereas the widespread folksthe centre class, farmers, transporters and small and medium companies are bearing the ache of excessive petrol rates, Maken mentioned.

In Dollar phrases, the worldwide crude oil costs are right down to the extent of June-July 2004, when petrol, diesel and LPG have been accessible at Rs 35.71, Rs 22.74 and Rs 281.60 per cylinder respectively, which have been fairly low cost in comparability to the current rates, he mentioned.

“For the last six years, the government and oil marketing companies have been making huge windfall gains amounting to lakhs of crores per year,” Maken alleged.