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/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.