AAP govt urged to roll back Value-Added Tax on petrol, diesel

Fuel prices rise for 12th day Rahul invites Modi to accept

Fuel prices rise for 12th day Rahul invites Modi to accept

He added that although the prices are increasing, the use of petrol and diesel is not decreasing. The price of diesel as of today is Rs. 74.60 per litre with an increase of 24 paisa. Basically, despite drop in global crude oil prices ever since the Modi government came to power, the fuel prices in the country were not reduced proportionately.

"Bonanza to central government is Rs 25 on every litre of petrol".

The minister also said that the hike is the result of rise in fuel prices by the foreign companies. With geopolitical situation leading to an uncertainty over the direction of worldwide oil prices, "a new sense of urgency has developed", he said.

In spite of giving assurance by the central government slashing down the petrol and diesel prices, the prices remained high for the 11th consecutive day on Thursday.

But the economic experts say that it is not possible.The Narendra Modi government has a fiscal deficit target of 3.2% for the fiscal year 2018-19.

'Avengers: Infinity War' stays strong with US$61 million third weekend
This must have definitely gone OTT over the superstar, having not watched any of the previous movies , we assume. Bollywood's megastar Amitabh Bachchan is quite active on Twitter and shares everything on the social media.

As per Indian Oil Corporation's price build-up data for fuels, the total tax component charged from consumers stands at 52 per cent for petrol and 42 per cent for diesel.

The government is seriously considering the matter of rising oil prices and is looking to resolve the issue in the coming days. State sales tax or VAT vary from state to state. We are trying to build a consensus in GST Council on bringing petroleum under GST.

Since the dynamic pricing system was resumed on May 14, prices have increased over Rs 2.50 per litre across all metropolitan cities, leading to demands from various quarters for urgent action by the government to curb the price rise.

According to Moody's Investors Service, ONGC and OIL could be asked to bear a part of government's fuel subsidy for oil, if prices stay above $60 per barrel for the fiscal year ending March 2019.

An year before the 2014 general elections, the resurgent Bharatiya Janata Party (BJP) had myriad reasons to be happy as social media, which was getting increasingly powerful, took the hapless Manmohan Singh government to the cleaners. I believe a permanent solution to this problem lies in the inclusion of auto fuels under the GST to bring uniformity of taxes on petrol and diesel otherwise "fuel on fire" situation will keep coming as has come after four years to confront Modi government.