Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 150
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 150
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Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 151
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 151
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 97
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Code Context
            if (Configure::read('debug')) {

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                            <div align="justify">-The Times of India<br /><br /><em>NEW DELHI: </em>In the last one week or so, the government has actively turned its focus towards reviving the country's economy. On Thursday, news agency Reuters quoted government officials to report that the Centre is planning to spend up to Rs 50,000 crore to arrest the 'economic slowdown'. This report came a day after Finance Minister Arun Jaitley said that the government is considering additional measures to bolster the economy.<br /><br />Jaitley also ruled out any cut in excise duty on petrol and diesel to cushion the spike in rates saying that the government needs revenue to support public spending without which growth will suffer. &quot;You should remember that the government needs revenue to run. How will you build highways?,&quot; he said. &quot;The government has increased public spending on infrastructure... Whatever (GDP) growth is there, it is fueled by public spending and FDI. If public spending is slashed, it will mean cutting down expenditure on social sector scheme,&quot; he said.<br /><br />With the government admitting the need of a booster shot to the economy, revenues from the petroleum sector is indeed a lifeline for the government. Let us see how:<br /><br /><em>How stressed is the economy?<br /></em><br />It is now well circulated that the GDP (Gross Domestic Product) growth rate slowed down to a three year-low of 5.7 per cent in the April-June quarter. However, that is just the tip of the iceberg. On Thursday, the verified Twitter handle of Ministry of Finance quoted Arun Jaitley conceding that private investment has taken a hit.<br /><br />Earlier in the month, former Prime Minister Manmohan Singh had pointed this out saying, &quot;Private sector investment has collapsed and the economy is running on just one engine of public spending&quot;.<br /><br />The stress on the exchequer has been accentuated by some more factors. In August, the Reserve Bank of India (RBI) transferred only Rs 30,659 crore -- less than half the amount of Rs 65,876 crore it transferred to last year -- as dividend implying lesser non-tax revenues for the year. Analysts said that the major reason behind this was the additional expenses incurred by RBI in printing of new notes after demonetisation.<br /><br />The government faced yet another jolt when traders claimed Rs 65,000 crore an input credit in lieu of the GST (Goods and Services Tax) returns filed by them for the month of July. The amount is almost 68.50 per cent of the Rs 95,000 crore that the government had earned from the first filing of GST.<br /><br />Meanwhile, the Current Account Deficit (CAD) has also reached a four year- high of 2.4 per cent of the GDP. CAD refers to the trade deficit when a country's import exceeds its exports.<br /><br /><em>Where does fuel price fit in the equation?<br /></em><br />With the country's finances in a bit of a straitjacket, the revenues earned from petroleum products continue to give the government some breathing space. Earlier this month, the petrol and diesel prices hit a three year- high despite the global crude oil prices halving during the period. The current government has earned a windfall from excise duty on fuel in the last three years. According to data published by the Ministry of Petroleum &amp; Natural Gas, in fiscal year 2013, the total share of excise duty collection from petrol and diesel stood at 26 per cent, helping the government earn a revenue of Rs 1,76,535 crore. This share jumped to 54 per cent in just three years, greatly increasing the revenue to Rs 2,84,142 crore in fiscal year 2016.<br /><br />Amit Malviya, the IT Cell head of the ruling BJP (Bharatiya Janta Party) recently tweeted, quoting Ministry of Petroleum figures to show that the state governments earn more than the central government from petro product revenues. <br /><br />Please <a href="http://timesofindia.indiatimes.com/business/india-business/why-arun-jaitley-refuses-to-cut-petroldiesel-prices/articleshow/60778468.cms?from=mdr" title="http://timesofindia.indiatimes.com/business/india-business/why-arun-jaitley-refuses-to-cut-petroldiesel-prices/articleshow/60778468.cms?from=mdr">click here</a> to read more. <br /></div>                                                           
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    <h1 class="cat-box-title">Why Arun Jaitley is unable to cut petrol, diesel prices -Abhik Deb</h1>
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                            <div align="justify">-The Times of India<br /><br /><em>NEW DELHI: </em>In the last one week or so, the government has actively turned its focus towards reviving the country's economy. On Thursday, news agency Reuters quoted government officials to report that the Centre is planning to spend up to Rs 50,000 crore to arrest the 'economic slowdown'. This report came a day after Finance Minister Arun Jaitley said that the government is considering additional measures to bolster the economy.<br /><br />Jaitley also ruled out any cut in excise duty on petrol and diesel to cushion the spike in rates saying that the government needs revenue to support public spending without which growth will suffer. &quot;You should remember that the government needs revenue to run. How will you build highways?,&quot; he said. &quot;The government has increased public spending on infrastructure... Whatever (GDP) growth is there, it is fueled by public spending and FDI. If public spending is slashed, it will mean cutting down expenditure on social sector scheme,&quot; he said.<br /><br />With the government admitting the need of a booster shot to the economy, revenues from the petroleum sector is indeed a lifeline for the government. Let us see how:<br /><br /><em>How stressed is the economy?<br /></em><br />It is now well circulated that the GDP (Gross Domestic Product) growth rate slowed down to a three year-low of 5.7 per cent in the April-June quarter. However, that is just the tip of the iceberg. On Thursday, the verified Twitter handle of Ministry of Finance quoted Arun Jaitley conceding that private investment has taken a hit.<br /><br />Earlier in the month, former Prime Minister Manmohan Singh had pointed this out saying, &quot;Private sector investment has collapsed and the economy is running on just one engine of public spending&quot;.<br /><br />The stress on the exchequer has been accentuated by some more factors. In August, the Reserve Bank of India (RBI) transferred only Rs 30,659 crore -- less than half the amount of Rs 65,876 crore it transferred to last year -- as dividend implying lesser non-tax revenues for the year. Analysts said that the major reason behind this was the additional expenses incurred by RBI in printing of new notes after demonetisation.<br /><br />The government faced yet another jolt when traders claimed Rs 65,000 crore an input credit in lieu of the GST (Goods and Services Tax) returns filed by them for the month of July. The amount is almost 68.50 per cent of the Rs 95,000 crore that the government had earned from the first filing of GST.<br /><br />Meanwhile, the Current Account Deficit (CAD) has also reached a four year- high of 2.4 per cent of the GDP. CAD refers to the trade deficit when a country's import exceeds its exports.<br /><br /><em>Where does fuel price fit in the equation?<br /></em><br />With the country's finances in a bit of a straitjacket, the revenues earned from petroleum products continue to give the government some breathing space. Earlier this month, the petrol and diesel prices hit a three year- high despite the global crude oil prices halving during the period. The current government has earned a windfall from excise duty on fuel in the last three years. According to data published by the Ministry of Petroleum &amp; Natural Gas, in fiscal year 2013, the total share of excise duty collection from petrol and diesel stood at 26 per cent, helping the government earn a revenue of Rs 1,76,535 crore. This share jumped to 54 per cent in just three years, greatly increasing the revenue to Rs 2,84,142 crore in fiscal year 2016.<br /><br />Amit Malviya, the IT Cell head of the ruling BJP (Bharatiya Janta Party) recently tweeted, quoting Ministry of Petroleum figures to show that the state governments earn more than the central government from petro product revenues. <br /><br />Please <a href="http://timesofindia.indiatimes.com/business/india-business/why-arun-jaitley-refuses-to-cut-petroldiesel-prices/articleshow/60778468.cms?from=mdr" title="http://timesofindia.indiatimes.com/business/india-business/why-arun-jaitley-refuses-to-cut-petroldiesel-prices/articleshow/60778468.cms?from=mdr">click here</a> to read more. <br /></div>                                                           
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                            <div align="justify">-The Times of India<br /><br /><em>NEW DELHI: </em>In the last one week or so, the government has actively turned its focus towards reviving the country's economy. On Thursday, news agency Reuters quoted government officials to report that the Centre is planning to spend up to Rs 50,000 crore to arrest the 'economic slowdown'. This report came a day after Finance Minister Arun Jaitley said that the government is considering additional measures to bolster the economy.<br /><br />Jaitley also ruled out any cut in excise duty on petrol and diesel to cushion the spike in rates saying that the government needs revenue to support public spending without which growth will suffer. &quot;You should remember that the government needs revenue to run. How will you build highways?,&quot; he said. &quot;The government has increased public spending on infrastructure... Whatever (GDP) growth is there, it is fueled by public spending and FDI. If public spending is slashed, it will mean cutting down expenditure on social sector scheme,&quot; he said.<br /><br />With the government admitting the need of a booster shot to the economy, revenues from the petroleum sector is indeed a lifeline for the government. Let us see how:<br /><br /><em>How stressed is the economy?<br /></em><br />It is now well circulated that the GDP (Gross Domestic Product) growth rate slowed down to a three year-low of 5.7 per cent in the April-June quarter. However, that is just the tip of the iceberg. On Thursday, the verified Twitter handle of Ministry of Finance quoted Arun Jaitley conceding that private investment has taken a hit.<br /><br />Earlier in the month, former Prime Minister Manmohan Singh had pointed this out saying, &quot;Private sector investment has collapsed and the economy is running on just one engine of public spending&quot;.<br /><br />The stress on the exchequer has been accentuated by some more factors. In August, the Reserve Bank of India (RBI) transferred only Rs 30,659 crore -- less than half the amount of Rs 65,876 crore it transferred to last year -- as dividend implying lesser non-tax revenues for the year. Analysts said that the major reason behind this was the additional expenses incurred by RBI in printing of new notes after demonetisation.<br /><br />The government faced yet another jolt when traders claimed Rs 65,000 crore an input credit in lieu of the GST (Goods and Services Tax) returns filed by them for the month of July. The amount is almost 68.50 per cent of the Rs 95,000 crore that the government had earned from the first filing of GST.<br /><br />Meanwhile, the Current Account Deficit (CAD) has also reached a four year- high of 2.4 per cent of the GDP. CAD refers to the trade deficit when a country's import exceeds its exports.<br /><br /><em>Where does fuel price fit in the equation?<br /></em><br />With the country's finances in a bit of a straitjacket, the revenues earned from petroleum products continue to give the government some breathing space. Earlier this month, the petrol and diesel prices hit a three year- high despite the global crude oil prices halving during the period. The current government has earned a windfall from excise duty on fuel in the last three years. According to data published by the Ministry of Petroleum &amp; Natural Gas, in fiscal year 2013, the total share of excise duty collection from petrol and diesel stood at 26 per cent, helping the government earn a revenue of Rs 1,76,535 crore. This share jumped to 54 per cent in just three years, greatly increasing the revenue to Rs 2,84,142 crore in fiscal year 2016.<br /><br />Amit Malviya, the IT Cell head of the ruling BJP (Bharatiya Janta Party) recently tweeted, quoting Ministry of Petroleum figures to show that the state governments earn more than the central government from petro product revenues. <br /><br />Please <a href="http://timesofindia.indiatimes.com/business/india-business/why-arun-jaitley-refuses-to-cut-petroldiesel-prices/articleshow/60778468.cms?from=mdr" title="http://timesofindia.indiatimes.com/business/india-business/why-arun-jaitley-refuses-to-cut-petroldiesel-prices/articleshow/60778468.cms?from=mdr">click here</a> to read more. <br /></div>                                                           
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Home हिन्दी

Why Arun Jaitley is unable to cut petrol, diesel prices -Abhik Deb

Published on Sep 23, 2017   Modified on Sep 23, 2017

-The Times of India NEW DELHI: In the last one week or so, the government has actively turned its focus towards reviving the country's economy. On Thursday, news agency Reuters quoted government officials to report that the Centre is planning to spend up to Rs 50,000 crore to arrest the 'economic slowdown'. This report came a day after Finance Minister Arun Jaitley said that the government is considering additional measures to bolster the economy. Jaitley also ruled out any cut in excise duty on petrol and diesel to cushion the spike in rates saying that the government needs revenue to support public spending without which growth will suffer. "You should remember that the government needs revenue to run. How will you build highways?," he said. "The government has increased public spending on infrastructure... Whatever (GDP) growth is there, it is fueled by public spending and FDI. If public spending is slashed, it will mean cutting down expenditure on social sector scheme," he said. With the government admitting the need of a booster shot to the economy, revenues from the petroleum sector is indeed a lifeline for the government. Let us see how: How stressed is the economy? It is now well circulated that the GDP (Gross Domestic Product) growth rate slowed down to a three year-low of 5.7 per cent in the April-June quarter. However, that is just the tip of the iceberg. On Thursday, the verified Twitter handle of Ministry of Finance quoted Arun Jaitley conceding that private investment has taken a hit. Earlier in the month, former Prime Minister Manmohan Singh had pointed this out saying, "Private sector investment has collapsed and the economy is running on just one engine of public spending". The stress on the exchequer has been accentuated by some more factors. In August, the Reserve Bank of India (RBI) transferred only Rs 30,659 crore -- less than half the amount of Rs 65,876 crore it transferred to last year -- as dividend implying lesser non-tax revenues for the year. Analysts said that the major reason behind this was the additional expenses incurred by RBI in printing of new notes after demonetisation. The government faced yet another jolt when traders claimed Rs 65,000 crore an input credit in lieu of the GST (Goods and Services Tax) returns filed by them for the month of July. The amount is almost 68.50 per cent of the Rs 95,000 crore that the government had earned from the first filing of GST. Meanwhile, the Current Account Deficit (CAD) has also reached a four year- high of 2.4 per cent of the GDP. CAD refers to the trade deficit when a country's import exceeds its exports. Where does fuel price fit in the equation? With the country's finances in a bit of a straitjacket, the revenues earned from petroleum products continue to give the government some breathing space. Earlier this month, the petrol and diesel prices hit a three year- high despite the global crude oil prices halving during the period. The current government has earned a windfall from excise duty on fuel in the last three years. According to data published by the Ministry of Petroleum & Natural Gas, in fiscal year 2013, the total share of excise duty collection from petrol and diesel stood at 26 per cent, helping the government earn a revenue of Rs 1,76,535 crore. This share jumped to 54 per cent in just three years, greatly increasing the revenue to Rs 2,84,142 crore in fiscal year 2016. Amit Malviya, the IT Cell head of the ruling BJP (Bharatiya Janta Party) recently tweeted, quoting Ministry of Petroleum figures to show that the state governments earn more than the central government from petro product revenues. Please click here to read more.

The Times of India, 22 September, 2017, http://timesofindia.indiatimes.com/business/india-business/why-arun-jaitley-refuses-to-cut-petroldiesel-prices/articleshow/60778468.cms?from=mdr

Tagged with: Excise Duty Fuel Inflation Fuel Prices Petrol Diesel Economic Growth

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