Amidst the petrol price rising above Rs 100, Prime Minister Narendra Modi said on Wednesday that if the previous governments had looked at the reduction in dependence on energy imports of the country, the middle class would not have suffered so much. The rise in the international price of crude oil increases the retail price of petroleum fuel in India. Modi, without mentioning the recent increase in fuel prices, said that India met 85 percent of its oil needs in 2019-20 and more than 53 percent of natural gas needs by imports.
At the inauguration of oil and gas projects in Tamil Nadu, the Prime Minister said, “Can a diverse and talented country like ours depend so much on energy imports?” The state is going to have assembly elections. He said, “I don’t want to criticize anyone, but I want to say that if we had paid attention in this matter in the past, our middle class would not be burdened.” With the increase in the day, the price of petrol has gone above 100 rupees liter in Rajasthan.
Increase in these taxes –
Central taxes are one and a half times higher in retail prices of petrol and diesel in the state. The share of central taxes on petrol is Rs 32.90, while the state has only Rs 26.52. Similarly, the share of central taxes on diesel is Rs 31.80 and the state share is Rs 19.62. The Center has increased the additional excise duty on petrol and diesel from 2 to 18 rupees / l. At the same time, special excise duty has also been increased. 5 on special excise duty petrol Has been increased from Rs. 11 to Rs. 8 / liter on diesel.
Which state charges how much tax –
In Rajasthan, 36% VAT and Rs 1.5 cess on petrol is 26% VAT and 1.75 cesses on diesel. In Madhya Pradesh, there is 33% VAT on petrol, Rs 4.5 / l additional VAT, and 1% cess. Diesel has 23% VAT, Rs.3 additional VAT, and 1% cess. 36.50% VAT on petrol in Manipur, 35% sales tax in Karnataka.
Opposition parties, including Congress, have criticized the price hike for the continued increase in fuel prices. He says that in April / May last year, instead of giving benefits to the customers, the government increased the tax. Now that the prices in the international market are high, the government is keeping the tax rates unchanged.
The Prime Minister said that it is our collective responsibility to work on clean and green sources while being self-sufficient in the field of energy. He said, “Our government is concerned about the burden on the middle class. That is why India is now emphasizing mixing ethanol in petrol. This will benefit the farmers as well as the customers. ”The government has set a target of 20 percent ethanol blending in petrol by 2025 which is currently 8.5 percent.
He said that while India is focusing on reducing dependence on energy imports, on the other hand, it is diversifying its resources to reduce the risk. The Prime Minister said that the emphasis of our government is on renewable sources of energy and by 2030 we have set a target to increase the share of renewable energy sources to 40 percent of the total energy production. He mentioned the increase in the share of solar energy, emphasis on public transportation, large-scale use of LED bulbs, junk policy of vehicles, and use of solar pumps for irrigation on the occasion.
Modi said that India is working on reducing dependence on energy imports through capacity building. In 2019-20, we were fourth in oil refining capacity. About 6.52 million tonnes of petroleum products are being exported. It is expected to increase further. ”In addition, Indian companies are acquiring oil and gas assets abroad.
The Prime Minister said, “Today Indian oil and gas companies are operating in 27 countries with an investment of Rs. 2.70 lakh crore.” He said that the natural gas pipeline worked on the grid to promote the use of polluting fuel. He is going.
Modi said, “We have planned to spend Rs 7.5 lakh crore to create oil and gas infrastructural projects in the next five years”. Apart from this, the emphasis is also being laid on the city gas distribution network in 470 districts. He also said that the government is working on increasing the share of natural gas in the energy sector from the current 6.3 percent to 15 percent. It is also committed to bring it under the ambit of Goods and Services Tax (GST). This will end the broader impact of various taxes.
The Prime Minister announced the Ramanathapuram – Thoothukudi natural gas pipeline and the Chennai Petroleum Corporation Limited. Dedicated the country to free petrol from sulfur. He also laid the foundation stone of the Rs 31,500 crore Cauvery Basin Refinery at Nagapatnam.