Business

Consistent Discussion Going On With Financing Ministry For Reduction In Petroleum Rates: Federal Government Sources

   Download Android App    Share in      FullScreen   CheckVideos

Federal government is in constant touch with Finance Ministry to reduce fuel costs, state sourcesThe Centre is in continuous discussion with the Finance Ministry for decrease in petroleum rates, government sources informed TheIndianSubcontinent, even as fuel costs continue to touch record highs practically daily across the country.The Petroleum Ministry looks for to decrease fuel rates and has actually held conversations with Financing Ministry on how to set about it, sources added.Higher taxes on fuel rates is a matter of issue for the petroleum ministry and sources stated that they are actively dealing with the tax concern so that individuals get some relief from them.As it is the nodal ministry, the petroleum ministry wants prices of fuel and diesel to come down, though the final decision will be taken by the financing ministry, sources said.Government is likewise reviewing the aid on LPG and desires that it must be given only to the clingy, sources further said.Both the Centre and the states need to lower the fuel costs together, they included.

Sources likewise stated that the Petroleum Ministry is working really hard with oil producing nations to work towards a decrease in prices by reaching out to them from Saudi Arabia to Russia.

They mentioned that the global oil rates ought to be within $70 barrel per dollar and for the next three months, careful steps must be adopted.Fuel costs throughout the country are at record highs and are pinching the commoner's pocket.

In Delhi, a litre of petrol now costs Rs 105.84, while diesel is sold at Rs 94.57 per litre.Petrol presently costs 33 percent more than the price at which aviation turbine fuel (ATF or jet fuel) is offered to airline companies.

ATF in Delhi expenses Rs 79,020.16 per kilo litre or roughly Rs 79 per litre.Sources, nevertheless, plainly pointed out that there has actually been no agreement on bringing the petroleum products under the ambit of items and services tax (GST).

They likewise specified that the country's strategic oil reserves are slightly less than 90 days however are satisfied only for an emergency.On former finance minister and current Trinamool Congress (TMC) leader Yashwant Sinha's remark on rising fuel rates, sources stated, can't compare the rates with 2014.

Mr Sinha on Sunday had actually said, We are a country of dead individuals.

Nowhere else would individuals have tolerated the daily and unjustified increase in fuel, diesel and LPG rates.

If the federal government gathered Rs 75,000 crore in taxes in 2014, it is today collecting Rs 3.50 lakh crore.

Isn't it daylight robbery?




Unlimited Portal Access + Monthly Magazine - 12 issues-Publication from Jan 2021

Buy Our Merchandise (Peace Series)

 

Contribute US to Start Broadcasting


It's Voluntary! Take care of your Family, Friends and People around You First and later think about us. Its Fine if you dont wish to contribute and if you wish to contribute then think about the Homeless first and Feed them. We can survive with your wishes too :-). You can Buy our Merchandise too which are of the finest quality.

Debit/Credit/UPI

UPI/Debit/Credit

Paytm

STRIPE

Details
Category: Business


20