Saturday, January 2, 2016

Another #excise duty hike on #petrol and #diesel ; #Modi Govt. indulging in profiteering : #Congress

Union government today raised excise duty on petrol by 37 paise per liter and the duty on diesel by Rs 2 per liter. This additional resource mobilization is likely to yield Rs 4,300 crore in the remaining part of the year," revenue secretary Hasmukh Adhia has said.

Oil Marketing Companies (OMCs) had Thursday slashed prices of petrol by 63 paise per liter along with a Rs 1.06 per liter cut in diesel prices but did not pass on the full benefit of the reduction in global oil prices to consumers.The centre's total collection from excise duty in the petroleum sector stood at Rs 99,000 crore last fiscal and Rs 33,000 crore in the first quarter of current fiscal.

According to a press statement made by Congress spokesperson Randeep Surjewala Modi government is indulging in profiteering by imposing unprecedented taxes in shape of excise and customs on crude oil - especially on diesel which amounts to further bleeding the farmer already crushed by an agrarian crisis and the common commuter who is being made to pay through his nose for travelling in trains and buses.