-The Times of India NEW DELHI: Oil minister Dharmendra Pradhan on Sunday raised hopes of the government cutting excise duty to soften the impact of oil prices as petrol and diesel prices hit historic highs on Sunday with state-run fuel retailers racing to catch up with current market rates after freezing pump prices for 19 days ahead of the Karnataka election. "The Centre is sensitive towards the rising fuel prices. Various alternatives...
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Fuel prices hit new high, no relief in sight for consumers -Sanjay Dutta
-The Times of India NEW DELHI: There’s no respite in sight for fuel consumers as pump prices remain on a record-breaking spree as crude clambers towards $80(approximately Rs 5,314) a barrel-mark in a market edgy over US bailing on Iran nuclear deal, outages in Venezuela and uptick in demand. Petrol and diesel prices scaled new peaks on Tuesday as benchmark crude rose to $75(approximately Rs 5,000)a barrel, its highest since November 2014. In...
More »Petrol price hit highest level, diesel at record high
-PTI Petrol price today hit ?74.40 a litre — the highest level under the BJP-led government, while diesel rates touched a record high of ?65.65, renewing calls for cut in excise duty to ease burden on consumers. State-owned oil firms, which have been since June last year revising auto fuel prices daily, on Sunday raised petrol and diesel rates by 19 paisa per litre each in Delhi, according to a price notification. The...
More »Data shows corporates are consistently favoured over rural India -Jitendra
-Down to Earth Corporate India gets indirect subsidy equivalent to 60 per cent of government expenditure on rural areas A recent analysis has revealed a shocking injustice being done consistently to rural India by the government with corporates getting subsidies at its expense. The Inclusive Media for Change, a New Delhi-based non-profit has analysed the last seven Union Budgets. It has found that indirect subsidy, termed as “tax expenditure” that was given...
More »Size of tax rebates is large as compared to spending by agricultural & rural development ministries
Believe it or not, the total revenue foregone in 2017-18 on account of special tax rates, exemptions, deductions, rebates, deferrals and credits -- broadly termed as 'tax expenditures' (an indirect subsidy) – that was given to corporate taxpayers has been more than 50 percent of the expenditure incurred by the Ministry of Agriculture & Farmers Welfare (MoAFW) and the Ministry of Rural Development (MoRD) altogether in that year. In other...
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