The government has deducted Rs. 4.5 lakh crore

New Delhi, Dt

In the last one and a half years, the public has been annoyed by the Corona and the stalled business. On the one hand, the death of the main breadwinner in many families due to Corona has put such families in trouble while the business has come to a standstill, creating a livelihood crisis for many. As low as it is, the public is also worried about inflation and rising petrol and diesel prices. Despite all this, the central government has earned more from taxes on petrol and diesel than from income tax.

In the last financial year 2020-21, the government received Rs. 4.5 lakh crore, while excise duty on petrol and diesel and VAT on state governments amounted to Rs. 2.2 lakh crore has been earned. The government's gains come at a time when petrol and diesel sales have declined due to inflation, lockdowns and partial controls.

Compared to the financial year 2015-20, the consumption of petrol and diesel has decreased by 10.4 per cent in the year 2020-21. Thus, the government has earned 5% profit from petrol and diesel tax in 2020-21 as compared to 2016-20. Meanwhile, companies have paid the government Rs 2.5 lakh crore in corporate taxes. The central government levies excise duty on petrol-diesel and the state governments levy VAT. Also some other charges and taxes are levied.

Last year, when international crude oil prices plunged to historic lows, instead of passing on the benefits to retail consumers, the excise duty on May 6, 2020 was Rs. 10 and Rs. 18 was increased. As a result, state-owned oil companies did not reduce petrol and diesel prices. Not only that, amid the softening of international crude oil prices, oil marketing companies had stopped daily changes in petrol-diesel prices for about three days following a lockdown imposed by the Corona virus. Since then, international crude oil prices have stabilized, which has led to a rise in petrol and diesel prices since June 9, 2020, with petrol and diesel hitting a two-year high for 15 consecutive days.

International crude oil prices have stabilized near ૭૨ 6 a barrel in anticipation of rising fuel consumption as the Hawaii global easing of the lockdown. In addition, state-owned oil companies have been raising petrol and diesel prices at regular intervals as the rupee has weakened against the dollar. Meanwhile, in five states, including West Bengal, there was no increase in petrol and diesel prices for 15 days during the elections. Following the completion of these elections, state-owned oil companies have started raising petrol and diesel prices from May 4, following which petrol prices have gone up by Rs. The historical level of 100 has been crossed. In some states, including Rajasthan, diesel is also priced at Rs. The level of 100 has been exceeded. However, the government is not ready to reduce petrol and diesel prices.