Union Minister Hardeep Singh Puri on Monday knowledgeable the Rajya Sabha that 9 states, together with Maharashtra and Kerala, have not reduced VAT on petrol and diesel.
The Petroleum and Natural Gas minister additionally knowledgeable the home that gas costs have gone up by over 50 per cent in many nations however have remained secure and risen by a mere 5 per cent in India in the course of the pandemic.
“All elected representatives needs to be rejoicing at the truth that the costs of petrol paid by the patron have remained regular in the course of the interval from April 1, 2020 to March 31, 2021,” he informed the home.
Replying to supplementaries throughout Question Hour, he mentioned levying of taxes is finished going by the scenario at that time of time and have been raised on the time of the pandemic however have been reduced since.
“We introduced down the central excise, however 9 states have nonetheless not introduced down taxes. We are keen to take such steps which are needed to manage the worth on the bunk.
“We have reduced oil costs. We are able to take different steps. Some states have not reduced taxes. There are 9 states, together with Maharashtra and Kerala, that have not reduced taxes on petrol and diesel,” the minister mentioned.
Sharing comparative value knowledge from the US, Canada, France, Germany, UK, Spain and India, Puri mentioned, “All these nations have seen costs of petrol go up by 50 to 55 and 58 %, however in India it has solely gone up by 5 %. We needs to be rejoicing in that. Instead we’re listening to why costs have gone up.”
To a supplementary by a BJP member that many states have not reduced VAT on petrol and the very best costs are in Andhra Pradesh, Maharashtra, Telangana and Kerala, the minister mentioned, “I’d guarantee the member that no matter restricted margins of persuasion we have to scale back VAT prices on petrol and diesel, as costs have been exceptionally excessive.”
On Russia providing reductions on crude oil, Puri mentioned in a scenario characterised by the pandemic in the final two years and the navy motion going down between Russia and Ukraine “the federal government will discover all choices which can be found”.
He mentioned he has had conversations at applicable ranges of the Russian Federation and discussions are at present underway.
“It is a dynamic scenario characterised by navy warfare, I’d be pleased to share particulars when finalised,”he mentioned.
The minister additionally knowledgeable that petrol and diesel costs have been deregulated in June 2010 and April 2014 respectively and could be decided by worldwide pricing.
In his written reply, the minister mentioned, “The Central Government reduced the Central Excise obligation on petrol and diesel by Rs 5 and Rs 10 per litre respectively efficient from 4th November, 2021. The measure was aimed to present an additional fillip to the economic system and to spice up consumption and preserve inflation low, thus serving to the poor and center courses. Many States/UTs have additionally reduced the VAT on petrol and diesel subsequently.”
Giving particulars of the quantity collected by the Union Government by levying excise obligation (together with cesses) on petroleum merchandise over the last three years and present 12 months, the minister knowledgeable that in 2018-29 the overall obligation collected was Rs 2.14 lakh crore and in 2019-20 it was Rs 2.23 lakh crore, which went as much as Rs 3.73 lakh crore in 2020-21.
During the present 12 months from April to September, the overall obligation collected from petroleum merchandise was Rs 1.71 lakh crore, based mostly on knowledge from 16 main oil and fuel corporations.
(Only the headline and movie of this report could have been reworked by the Business Standard employees; the remainder of the content material is auto-generated from a syndicated feed.)
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