This is How Much Government has Earned from taxes of Petrol and Diesel!
New Delhi, 23/2: Petrol-diesel prices have not changed for the last 24 days, but in many cities, their rates are at record levels. Petrol rates have also crossed 100 rupees in many places. But no relief has been announced by the central or state governments so far.
Tax collection on petrol and diesel increased by 300%
Global crude oil prices are a more important domestic factor behind the increase in petrol and diesel prices. Brent crude oil has been around $ 64-68 a barrel for the past several weeks, but the tax levied on petrol and diesel by the central government has increased manifold. In the Lok Sabha, the government has said that the tax collection on petrol and diesel has increased by 300 percent during the last 6 years because the excise duty was increased. Let’s take a look at the data given by the government.
This year the tax collection was fierce in the last 10 months
In the year 2014-15, the government earned Rs 29,279 crore from excise duty on petrol and Rs 42,881 crore on diesel, this was the first year of the Modi government. In a written reply given by the Minister of State for Finance Anurag Thakur to the Lok Sabha, it has been said that the collection of petrol and diesel increased by Rs 2.94 lakh crore from the first 10 months of the current financial year (FY 2020-21) i.e. April to January.
Tax collection in last 6 years
Including the excise duty on natural gas, the central government collected a tax of Rs 74,158 crore during the year 2014-15, which increased to Rs 2.95 lakh crore from April 2020 to January 2021. Anurag Thakur said that as the percentage increased in the prices of petrol, diesel, and natural gas, it had increased by 5.4% in FY 2014-15, which increased to 12.2% in the current financial year.
This is how central excise duty on petrol increased
In 2014, the excise duty on petrol was Rs 9.48 per liter, which has now been increased to Rs 32.90, so the excise duty on diesel has been increased from Rs 3.56 to Rs 31.80 per liter. The price of petrol in Delhi today is 91.17 rupees per liter, of which the tax share is 60 percent. Excise duty is 36% in this. VAT and other charges are different from other states.
Excise duty on diesel
Similarly, the price of diesel in Delhi today is Rs 81.47 per liter, of which the tax share is 53 percent. Of this, 39 percent is only for central excise duty. Anurag Thakur told in Parliament that the total excise duty on petrol and diesel (including basic excise duty, cess, and surcharge) was increased by Rs 3 per liter from 14 March 2020. After this, on 6 May 2020, the central excise duty on petrol was increased by Rs 13 per liter and on diesel by Rs 16 per liter.
During 15 months, the duty on petrol was increased by Rs 11.77 per liter in 9 installments, while the duty on diesel was increased by Rs 13.47 per liter. On 2 October 2017, the government reduced excise duty by Rs 2 per liter, then a year later it was cut by Rs 1.50, but again in July 2019, it was increased by Rs 2 per liter.
