Rising petrol and diesel prices. Who benefits more is the center or the state? - PranKrishna

PranKrishna

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Sunday, July 11, 2021

Rising petrol and diesel prices. Who benefits more is the center or the state?




Petrol and diesel price hike: Who benefits? The crude oil that is imported into the Indian market is known as 'Indian Basket'. On May 26, 2021, the price of Indian basket oil was ৬৮ 8 per barrel. June 2 is. 69.43, June 3 is, 69,, 96, June 4 is. 60.38, June 6 is. 60.24, June 6. , 69, এবং 79 and ৯ 61.27 on June 9. As you can see from this calculation, the price of crude oil has fluctuated in the international market. In India, 1 US dollar is 63.11 rupees. At Rs 83.11 per dollar, the price of this well in India has gone up. 61.28x63.11 = Rs. I did not calculate the money. 1 barrel contains 159 liters of oil. That is the cost per liter of crude oil. 5211 (share) 159 = 32 rupees. The cost of transportation is Rs 0.27 per liter and petrol pump dealers get Rs 3.8 per liter, which means the price of 1 liter of petrol in India should be Rs 35.96 per liter. Let's see what tax the central government is imposing on petrol? Basic tariff per liter is 1.40 rupees. Special tariff is Tk 11, red infrastructure tariff is Tk 18, cess on agriculture and infrastructure is Tk 2.50. In other words, the center duty per liter stands at Rs 32.90. Then 35 rupees 96 paise + 32.90 rupees: 1 liter of petrol - 6 rupees 7 paise. This is the calculation of the center. Now we will look at the account of West Bengal. Recently, the price of 1 liter of petrol in Kolkata is 95 rupees 57 paise. So how much is the West Bengal government getting 1 liter of petrol? 95 rupees 56 paise = 8 rupees 6 paise: 26 rupees 72 paise. You will probably find this account in all newspapers and magazines. But some things are not informed. I am highlighting that this time. As per the rules of the 14th Finance Commission, 42 per cent of the central duty is refunded to the states. Excluding 2 taka 50 paise for cess on agricultural structure (32.90-2.50) 30 taka 40 paise 42 percent i.e. 12 taka 6 paisa is returned to the state. Then 28 rupees 72 paise + 12 rupees 6 paise: 39 rupees 49 paise per 1 liter of petrol. On the other hand, the central government is getting 32.90-12.7: 20 rupees 13 paise. With this, the West Bengal government will impose a 25 per cent VAT on petrol and a cess of Rs 1 per liter. As such, 3 to 4 rupees will be from the income of the state. Because I got the center tariff calculation 2 months ago (with the price of refined oil at Rs 2.60 per liter). If it has increased now, West Bengal may be getting 35 rupees. Therefore, the state government is earning 35-39 rupees per liter of petrol, while the central income is around 20-24 rupees. Due to the recent situation, lockdown, economic stagnation, the Petroleum Minister has said that the Center is not thinking of reducing oil taxes now. So by unilaterally blaming the central government, who is creating anti-central weather across the country? 

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