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Petrol and Diesel price | More than 300 per cent tax on petrol and diesel in the last six years, the central government has admitted in the Lok Sabha

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Petrol and Diesel price | More than 300 per cent tax on petrol and diesel in the last six years, the central government has admitted in the Lok Sabha

New Delhi: Minister of State for Finance Anurag Thakur admitted in the Lok Sabha that more than 300 per cent tax has been levied on petrol and diesel prices in the last six years. Replying to a written question, Thakur said, “Before the Modi government came to power, Rs 29,279 crore was earned from excise duty on petrol and Rs 42,881 crore from excise duty on diesel during 2014-15.”

In the first ten months of the last fiscal, 2020-21, taxes on petrol and diesel were hiked to Rs 2.94 lakh crore. Petrol and diesel prices have been rising steadily in February. Prices stabilized in March.

Petrol and diesel prices have remained stable in the country amid rising international crude oil prices. In Mumbai, petrol is priced at Rs 97.57 and diesel at Rs 88.60. In Delhi, the rates are Rs 91.17 and Rs 81.47 respectively.

At present, the central government levies a tax of Rs 32.98 per liter on petrol and Rs 31.83 per liter on diesel. Taxes do not stop there. The state government levies a separate tax on it. The Maharashtra government imposes 25 per cent VAT on petrol and 21 per cent on diesel. Now more cess is imposed on it too. A cess of Rs 10 per liter is levied on petrol and Rs 3 per liter on diesel. As a result, petrol and diesel prices are on the rise in the country.

Fuel prices in the country started changing daily from June 15, 2017. Petrol and diesel prices are now set by Indian oil companies. Internationally, oil prices are changing every moment. As a result, petrol and diesel prices in the country now fluctuate at 6 am every day.

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