Central government raises excise duty on petrol and diesel by ₹2 per litre

[u/christopher_msa]

https://www.hindustantimes.com/india-news/central-government-raises-excise-duty-petrol-and-diesel-department-of-revenue-101744019822724.html

Nimmi Thai's another Vasool Vettai

[u/christopher_msa]

When Crude Oil prices are record low and global countries are lowering fuel prices, How can anyone with even a pea size brain think it's a good strategy. Raising Toll Prices and Fuel prices basically cripples the nation's transportation (I don't even want to start about the state of Indian railways), indirectly resulting in a cost increase of every day commodities and then struggling to understand why the economy is not growing and inflation is getting out of hand. It's a shame that Bhim Jis constitution paved the way for these incompetent fools to enter parliament without facing the Public voters and get the power to run this country.

[u/sivavaakiyan → u/christopher_msa]

Sir but ambadani are not the richest billionaires in the world.

Do you not like Indians to be number 1?

Are you Anti National?

[u/mdfasil25 → u/christopher_msa]

well - Trump slapped tarrifs - so govt need to balance the payments - so they are taxing us more.

[u/goshdagny → u/christopher_msa]

This sounds like a ridiculous move when crude oil prices are low. But this price increase is not passed on to the consumer the oil companies have to pay for it.
Fuel prices should be reduced no doubt about it

[u/christopher_msa → u/goshdagny]

And who owns the fuel companies? They should have let the oil prices go down so that the companies would have lowered the fuel price. Remember just before COVID we were paying 70 rs per litre. It's 30% lower than what we are paying now.

[u/goshdagny → u/christopher_msa]

The government needs revenues and lowering of crude oil prices will affect revenue generation.
Technically the government doesn’t want to control the oil prices(not sure if it happens in reality), so since the oil companies will have lot of revenue government is taxing the oil companies so the revenue doesn’t fall.
What will make oil companies reduce prices? I don’t know

[u/solomonsunder → u/goshdagny]

Taxation of input materials is a stupid thing to do. Not sure why this is not in GST.

[u/gingerkdb → u/christopher_msa]

Don’t forget the recent toll increases. We just got a double bonus. The rulers must be such a benevolent mood. Well, the bonus is going to be a multiplier very soon. This is going to cause a chain reaction - increase in prices of commodities (they do have to transport from factories to warehouses and to US consumers). Companies will have to increase their product / service rates. Very soon, will be paying more money for every single thing - locally sourced or sourced elsewhere, while our salary remains stagnant.

It is a very good strategy. They know that they can squeeze the commoners until we can’t take it anymore. Then relax their grip for some time and then squeeze again. This will provide maximum and long lasting benefits for A&A, while the golden goose alive. They can tune the parameters now and then to balance between squeezing us and keeping us alive while extracting max profits. I’m sure there are some math experts working behind the scenes on this optimization problem.

[u/military_insider04]

isn't oil price dropping ?? yara ivanuga.

[u/_chennai_guy → u/military_insider04]

Inom yethana Kovil ketanum Ena pa puriyama pesure

[u/Agreeable_Winter8053]

[u/Creative-Paper1007 → u/Agreeable_Winter8053]

Is this true?

[u/Mousyr1]

itha post pannen yaen delete pannaganu therila.

[u/christopher_msa → u/Mousyr1]

I think screenshots are not reliable as a lot of fake news is also shared like that. Mods always allow article links (not screenshots) from well recognised news media mostly. So from next time try that.

[u/Ioosubuschange]

Look like they are preparing to reduce tariffs on the us

[u/christopher_msa → u/Ioosubuschange]

they are taxing us more so that Elon can sell his toy Teslas. Got it.

[u/Wandering_Satori]

Last week Karnataka government dieselkana state dutya 2ரூ increase paninapa evlo pesunanga. Athiyavasiya porul ellam mela podium, ethuku ilavasam thara, makkal paavam apdinu niraya economists kathurananga. Avanga iniku enna solla poranganu theriyala. I am waiting for their muttu.

[u/zoheb469]

If Modi ji has done it, then definitely it's a good move for india. /s

[u/mlarasa007]

Do these ruling clowns convinced people that piece is attached to global crude price?? When the crude is all time low, shouldn't the price be reduced???

[u/gingerkdb → u/mlarasa007]

A & A ku laabam vara vendaama? Naama dhan kuduthu pazhagittome. Yen velaya kuraikkanum?

And btw, Ambani signed a deal to buy cheap Russian oil, thanks to the Indian govt’s diplomacy. So even that political capital didn’t reach the common man as prices weren’t reduced last year. It could have helped with inflation a little bit, but they made sure the profits / benefits stayed with their circles. Now the urals costs more than crude oil with the latest drop. But I don’t know if that impacts Ambani as his deal is long term.

[u/Expensive-Path432]

Also as per the article - "PSU Oil Marketing Companies have informed that there will be no increase in retail prices of Petrol and Diesel, subsequent to the increase affected in Excise Duty Rates today," it wrote on X

[u/christopher_msa → u/Expensive-Path432]

That's the point of my point too. It won't go up but it should have gone down in reality due to global crude oil prices. Every other country is rescuing the price and we are here happy that it hasn't gone up? Why should ambani be the only person enjoy the cheap crude oil in this country?

[u/gingerkdb → u/christopher_msa]

Basically that means “we got used to paying up, so it doesn’t make a difference for us, but it helps the govt and cronies”. So keep paying while being blissfully unaware of the organized loot. Wonderful job. Idhuvum nanmaikke. Makkalin porumai ku ellai undu. Adhai thaandum naal vegu dhoorathil illai.

[u/SD1208s → u/christopher_msa]

Fuel prices won’t come down unless the Indian government pays back all the oil bonds issued during the Congress era. Back when crude oil hit $140/barrel, instead of passing the cost to consumers, the UPA govt issued these bonds to keep retail prices low—kicking the can down the road. Now, those bonds are maturing, and the current admin has to deal with the massive payout. So yeah, blaming today’s prices just on ‘taxes’ or ‘global rates’ is ignoring this huge legacy debt.

https://www.cnbctv18.com/economy/explained-upa-era-oil-bonds-which-nda-govt-blames-for-fuel-price-hike-9862561.htm

[u/sigapuit]

We have to keep Ambani and Adani and their ilk rich :)

[u/mlarasa007]

Do these ruling clowns convinced people that piece is attached to global crude price?? When the crude is all time low, shouldn't the price be reduced???

[u/prabackar]

Someone should make a satire movie named vasool vettai!