Posted by
Krishna
Slightly OT, but this is what forms the price of Petrol - 43% going towards actual effort of Petrol provisioning (drilling, refining, transport, Oil companies profit everything!). Taking INR 47.93 as petrol prices, we have the following breakup:
Price without duty and taxes: 43% = Rs. 20.61
Excise duty: 31% = Rs. 14.86
Customs duty: 1% = Rs. 0.48
Sales tax: 15% = Rs. 7.19
Subsidy/underrecovery: 10% = Rs. 4.79
Source: Warning: PDF file, but not very big.
Govt. is sucking 57% of the petrol price as taxes, which amounts to ~133% of the goods price as taxes. Imagine the country's properity if the Govt. had not meddled in the pricing of teh commodity, and let it be decided by the market, strictly overseen by a competition commission.
The US uses several times of India's consumption, for 1/3rd of the population. They get their petrol at Rs. 36/L (Checked today, prices ~$3/gal - 39% higher than the regular 50.xx Rs. metros excluding Delhi are needed to pay.
I am a Libertarian today.
Krish,
I dont understand what kind of subsidy the GOV is giving to the people, all the prices are increasing.
It looks like modern wasooly on papers. Before goondas used to come to shops for wasooly. But Gov has eradicated these goondas, now these goondas are employed now by GOV, and they are given position names like home minister, finance minister, railway minister etc minister.
If these prices increase this time that too in a small gap of time, Im going to throw all my old torn chappal on any minister I see. lol and they are worth it when they are ready to take it from my pocket why dont they accept my chappal.
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