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Old 2nd February 2018, 11:44   #6166
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Originally Posted by sibot View Post
That's the thing, why are people not outraged that the government continues to fund their excesses with tax payers money? The opposition has failed in it's role by not being able to effectively highlight these issues. I'm flabbergasted when a full tank of fuel costs so much more than it did a few years ago.

They did away with announcing hikes in prices by adopting dynamic pricing, so we don't get to read the big flashing front page news of fuel price hikes but the government silently chips away at our income every day by raising the prices.
Well the government knows that the public will have their tails firmly tucked in between their legs and will take up any bullcrap that is thrown at them, pay up and move on with lives cursing. These people are not exactly the vote bank. It is the farmers, the poor, ladies and senior citizens whose needs have been well addressed in this budget. The common man who pays his tax have been left high and dry.

I guess it is a capital crime to be successful and rich in India at the moment.

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Old 2nd February 2018, 12:07   #6167
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Default Re: The Official Fuel Prices Thread

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Originally Posted by sibot View Post
That's the thing, why are people not outraged that the government continues to fund their excesses with tax payers money? The opposition has failed in it's role by not being able to effectively highlight these issues. I'm flabbergasted when a full tank of fuel costs so much more than it did a few years ago.

They did away with announcing hikes in prices by adopting dynamic pricing, so we don't get to read the big flashing front page news of fuel price hikes but the government silently chips away at our income every day by raising the prices.
Yesterday filled diesel at 68 rupees, I mean I could not believe my eyes that with crude at 69 per barrel, I was paying 68 for diesel and petrol was 80.91 aka 81 rupees, this is a loot of epic proportions and this cancer needs to be removed!

Last edited by Aditya : 4th February 2018 at 15:00. Reason: Political content deleted. PM coming up.
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Old 2nd February 2018, 12:20   #6168
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Default Re: The Official Fuel Prices Thread

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Originally Posted by arunramaswamy View Post
I

Well the government knows that the public will have their tails firmly tucked in between their legs and will take up any bullcrap that is thrown at them, pay up and move on with lives cursing. These people are not exactly the vote bank. It is the farmers, the poor, ladies and senior citizens whose needs have been well addressed in this budget. The common man who pays his tax have been left high and dry.

I guess it is a capital crime to be successful and rich in India at the moment.
I was expecting a typical populist budget just before the elections.

This is exactly their strategy, targeting the right people. But somehow, I support this budget. While the government is sucking money from us, it won't be making any profit or have any personal agenda. That money is going to flow back into the economy through different schemes.

Most of these schemes will ensure to reduce the economic gap among the different classes, i.e. redistribution of wealth. Since the Govt. is speaking (and even doing) big words about plugging leaks, removing bribes and targeting black money, I hope most of the money of such schemes will reach the intended beneficiaries. Some other schemes would benefit all of us - good roads, railways, etc.

PS: I belong to the salaried class and drive a petrol car, paying one of the highest prices in the country for this fuel. None of family members have any reason to rejoice from this budget unless, they agree with me on the above points. I know my father agrees with me.

Last edited by Aditya : 4th February 2018 at 15:08. Reason: Political comment edited
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Old 2nd February 2018, 12:27   #6169
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Default Re: The Official Fuel Prices Thread

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Originally Posted by humyum View Post
Giving us carrots because of the 2019 elections while the country is looted dry inspite of the low crude prices.
I spoke too soon I don't understand why go through all the hassle of changing names of tax and complicate further, when there is no intent to reduce.
Also the chances of fuel coming under GST is almost zero as both central and all state governments are using fuel to adjust tax revenues.
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Old 2nd February 2018, 12:40   #6170
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Correct me if I am wrong, fuel as a commodity is equally taxed to everyone irrespective of their job or income. However, the taxes might defer from one region to another.

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I guess it is a capital crime to be successful and rich in India at the moment.


I would modify it to "being salaried" is a bigger problem in India in addition to being successful and rich. If the taxes paid are judiciously spent, I would not complain as long as the basic necessities like food and water are sufficiently met, unlike many other under developed countries. My only "wish" is, there should be transparency on the money spent by the govt.
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Old 2nd February 2018, 12:43   #6171
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Diesel is touching 70/- in Telangana.. today I filled at 69.65 pet liter... My heart is crying 🙄
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Old 2nd February 2018, 12:49   #6172
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Default Re: The Official Fuel Prices Thread

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Originally Posted by humyum View Post
Yesterday filled diesel at 68 rupees, I mean I could not believe my eyes that with crude at 69 per barrel, I was paying 68 for diesel and petrol was 80.91 aka 81 rupees, this is a loot of epic proportions and this cancer needs to be removed!
Sir,

Diesel is at its highest, However Petrol has still not crossed its highest that it ever achieved in Sep-13, a price of 83.62 in Mumbai.
Today it may be same as what it was in April-2014.

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Old 2nd February 2018, 13:40   #6173
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I was expecting a typical populist budget just before the elections. But this Mr. Modi and team never cease to surprise us.

This is exactly their strategy, targeting the right people. But somehow, I support this budget. While the government is sucking money from us, it won't be making any profit or have any personal agenda. That money is going to flow back into the economy through different schemes.

Most of these schemes will ensure to reduce the economic gap among the different classes, i.e. redistribution of wealth. Since the Govt. is speaking (and even doing) big words about plugging leaks, removing bribes and targeting black money, I hope most of the money of such schemes will reach the intended beneficiaries. Some other schemes would benefit all of us - good roads, railways, etc.
The problem which I have is, at the end of the day after paying all these taxes, what do a salaried person get back? I am talking about a normal person who happens to earn in the region of 8-9 lakhs per annum. Why should someone, who has struggled in his younger years to earn a decent living, pay for the poor?

Last edited by Aditya : 4th February 2018 at 15:06. Reason: Political comment edited
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Old 2nd February 2018, 14:19   #6174
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Default Re: The Official Fuel Prices Thread

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Originally Posted by arunramaswamy View Post
The problem which I have is, at the end of the day after paying all these taxes, what do a salaried person get back? I am talking about a normal person who happens to earn in the region of 8-9 lakhs per annum. Just because someone wants to be a robin hood at the expense of middle class, why should someone, who has struggled in his younger years to earn a decent living, pay for the poor?
While the salaried class didn't gain from the budget, I don't see us losing anything as well. No additional burden on us for FY-19. A few imported items are going to be expensive but that isn't really a concern for the common man. And from the tax we are paying, we get back only a part of it - better infrastructure and railways, more transparent executive bodies and improvement of our villages.

Regarding the fuel prices, they have been deregulated long back and is linked to the global oil prices. I agree the tax component(including all xyz taxes levied) is ridiculously high but that's not new. It has been the same since decades and this is a major source of revenue for the Govt. The central and state governments won't up such a lucrative source of revenue from a sector which has rising demand.

Note: My assumption is that you don't invest in stocks and hence LTCG tax won't impact you. It does impact me to a very small extent.

Please feel free to counter me if I am wrong anywhere.

Last edited by ashis89 : 2nd February 2018 at 14:30.
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Old 2nd February 2018, 18:49   #6175
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Originally Posted by arunramaswamy View Post
why should someone, who has struggled in his younger years to earn a decent living, pay for the poor?
This is so politically incorrect. You rich guys earning 8-9 Lakhs per year complain about your taxes. Think about the poor farmer or trader earning 20-30 Lakhs per year and having assets worth a few crores. Think about all the BPL card holders. The poor politicians who have to scrape together a few hundred crores every elections.
Taxes are meant for the salaried middle class. It's uptown them to fund the country. Now with corruption becoming centralized due to GST and other policies, you benefit (Don't ask me how).
An important aspect of this budget is the health insurance. Rs. 5 lakhs per family for 10 crore families. This means Rs. 50 lakh crore per year. And for sure every eligible family is going to utilize the whole Rs. 5 lakhs. Even today I get calls from software guys and others with medical insurance to produce fake bills of hospitalization offering 50% to me. However I value my profession too much to oblige. I'm sure they are getting it done elsewhere. They say it is advised by their HR.

Fuel prices are based on international prices. No one knows what is the benchmark. However it is a cash cow and affects everyone equally. No one except army and railways (Correct me if I'm wrong) gets fuel for free. Even state buses have to buy fuel. So it is a grand equalizer. It is not under the ambit of GST because the time is not right yet. It will come under GST (Probable in time for 2019 elections). Later various cess and duties will be added to bring it back up to form. Another justification for high fuel prices is environmental. To push people into using public transport. Which everyone knows is impossible in our country. Heck, even to car pool with your wife means one of you will end up waiting hours for the other to finish up.
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Old 2nd February 2018, 20:16   #6176
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Fuel prices are based on international prices. No one knows what is the benchmark. However it is a cash cow and affects everyone equally. No one except army and railways (Correct me if I'm wrong) gets fuel for free. Even state buses have to buy fuel. So it is a grand equalizer. It is not under the ambit of GST because the time is not right yet. It will come under GST (Probable in time for 2019 elections). Later various cess and duties will be added to bring it back up to form.
Railways buy the fuel and are the single largest contributor to the tax collected from fuel.

Oil producing states like Assam were not ready to agree to fuel coming under GST since most of their revenue comes this source only. GST or GST, the costs are not going to come down as it would mean massive revenue loss to the Govt. It's like asking a senior employee to take a 50% pay cut so that the lower rank employees or company scheme can be funded. No one will agree once they are accustomed to their incomes.
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Old 7th February 2018, 21:53   #6177
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Default Re: The Official Fuel Prices Thread

Illogical fuel price: no nation wide protest, no street drama!

Fuel prices can be controlled only by "reimbursement system". All MPs must be demanded to pay and fill fuel and reimburse with a credit duration of 30days. Perhaps this is the only way to make them sensitive and accountable.
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Old 9th February 2018, 10:33   #6178
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Default Re: The Official Fuel Prices Thread

Crude oil prices are down in the last 4-5 days, but the sippers here reduced the Petrol and diesel prices by just 3 paise! Govt not reducing the excise duty that was increased when the crude prices were rock bottom at 35 Dollar per barrel, and now Petrol Diesel prices are not reduced after the international prices are cooling down. As long as the media and majority are slaves of fascist politics and keep on dreaming of good days will be served in dishes in front of them, the common people in this country are going to be penetrated from all possible ways.
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Old 23rd February 2018, 14:37   #6179
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Default Re: The Official Fuel Prices Thread

Appears there is a decrease in fuel prices by around ₹1. Filled up and noticed this.
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Old 23rd February 2018, 14:56   #6180
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Originally Posted by ashis89 View Post
Most of these schemes will ensure to reduce the economic gap among the different classes, i.e. redistribution of wealth. Since the Govt. is speaking (and even doing) big words about plugging leaks, removing bribes and targeting black money, I hope most of the money of such schemes will reach the intended beneficiaries. Some other schemes would benefit all of us - good roads, railways, etc.
I can't believe people supporting the government on fuel price policy are that nave. This is nothing but loot, when the administrative price was done away with, it was expected that the fuel price would go up when crude prices are up, and would go down when the crude prices are down.

You don't hike the central excise duty 9 times to offset the price advantage customers would have due to falling crude prices world wide.

This is a typical example of policy paralysis.


Pramod

Last edited by pramodkumar : 23rd February 2018 at 15:00.
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