[Ragavsr]

Originally Posted by RJK

The Oil minister‘s statements are truly appalling, to the point where he thinks all of us are collective bunch of idiots.

The Oil Minister lieing with a straight face was pathetic to see and a real shame. It was as if he perceives the 1.4 billion to be all dumb folks who have no idea that oil prices reached historic lows and are still low at 80$ , for petrol to sell at 100 rupees.

Originally Posted by condor

Even basic numbers like number of km's road constructed per day itself should give you an idea.

Boss, 90% of projects constructed are on BOT basis where the loan is borrowed , to be paid by the general public with tolls . The government doesn't make any net contribution. And the common man again suffers with expensive toll charges.

[carboy]

Originally Posted by condor

Even basic numbers like number of km's road constructed per day itself should give you an idea.

Not really a good measure. Kms of road is not the only thing in infra. You can have one govt which spent 200 rs on infra but spent in 5 things - so perhaps Rs. 40 on each kind of infra. Another govt which spent 80 on Roads but only 20 on all other kinds of infra put together.

Much better would be if you can back up what you claimed - more being spent on infra - is it really proportionally more.

[carboy]

Originally Posted by M00M

Yes economy globally was slowing down

No, we slowed down much before the global economy.

Originally Posted by M00M

The freebies that everyone demands and protests and sits on dharna and gets, needs to stop.

Yeah, Some 35,000 crore farmer loan waiver in UP by Yogi. 35,000 crore farmer loan waiver in Maharashtra by Fadnavis. This really needs to stop. I think WB manifesto by BJP now even includes subsidised electricity.

[wildsdi5530]

In today's newspaper, fuel price expected to come down by Rs. 2/- due to falling crude prices from $68 to $64. Front page news.
Page 3 news. OMCs losing Rs.4/- per liter due to stagnation of prices due to upcoming elections in several states.
So What can we expect in the coming days?

[Steppenwolf1978]

Originally Posted by Garth

I think the lack of a serious and effective opposition in our country is so apparent at the moment. This has gone to a point that is not at all funny any longer.

They keep blabbering some new thing every time someone asks them about the fuel prices.

hello,

I dont think the opposition is lacking in any manner. The problem is the blanket ban on reporting about them by the media. You can see their activity when they are making a baffoon out of themselves but when they say anything usefull, you wont hear or see them.

Take for example, last february i.e. 2020 Rahul Gandhi said that because of Covid Economy & Health services are going to suffer, we have to make preparations, did any news outlet give it importance?

I am in no way a follower of any political party, but cannot unsee the reality.

cheers.

[jayendra]

https://timesofindia.indiatimes.com/...w/81656414.cms

Some Positive news in the last few months!

[ashis89]

Originally Posted by jayendra

https://timesofindia.indiatimes.com/...w/81656414.cms

Some Positive news in the last few months!

Originally Posted by wildsdi5530

In today's newspaper, fuel price expected to come down by Rs. 2/- due to falling crude prices from $68 to $64. Front page news.
Page 3 news. OMCs losing Rs.4/- per liter due to stagnation of prices due to upcoming elections in several states.
So What can we expect in the coming days?

The article says that a fall in crude price to $64 could lead to a price cut of Rs.2 per litre of fuel.

Also says that OMCs are 'losing' Rs.4 per litre of fuel due to frozen prices of fuel because of the upcoming elections. And that the OMCs would 'breakeven' when oil falls to $62 per barrel.

To me it feels like a junk article to fill some space on the paper. The way I understand, OMCs can't change the prices right now due to upcoming elections and they have been incurring losses. As in the past, after elections the OMCs raise prices as per the current crude oil price and then some more, to recover the losses they incurred in the past.

In this case, if oil prices fall below $62 (breakeven crude price for the current petrol/diesel prices) by the time the elections end, we might see some relief in the fuel prices. Or the govts. stop being greedy and cut some cess and VAT rates.

[Dry Ice]

Originally Posted by wildsdi5530

OMCs losing Rs.4/- per liter due to stagnation of prices due to upcoming elections in several states.
So What can we expect in the coming days?

Originally Posted by ashis89

Also says that OMCs are 'losing' Rs.4 per litre of fuel due to frozen prices of fuel because of the upcoming elections.

Oh the irony!

Fuel is long deregulated, we don't fiddle with the prices anymore.

[abhijeetd_swift]

I have slightly different opinion here. Please don't hate me

Let's accept one fact that government needs money to run the country.

How many autowallas, transporters or local vendors do we know that pay their income taxes honestly given that they have eligible income for taxation? Heck people do cash transaction for this very purpose of avoiding taxes. (I am not generalizing, but very few people pay taxes if it's not for TDS)

Assume petroleum products are brought under GST and petrol becomes 55 Rs/Litre. Everyone is happy. Yay!
We are forgetting that to recover the lost money, government will find some other way! They would end up having no choice but to do so.

Now I belong to the category of people paying 30% taxes, so as most of the others on this forum. What if we are suddenly asked to pay 40% to recover the deficit? Will that be feasible? No! Why should less than 2% of taxpayers take care of entire nation?

At least when government is getting these indirect taxes from petroleum products, everyone HAS TO pay it, no one can avoid even if they want.
I am okay to fill petrol at whatever rate given that every other person is also filling at the same rate.

If you don't believe me, just wait till EVs become mainstream. Govt will have to recover money from elsewhere by taxing whatever they can. I just hope honest taxpayers would be last on their list.

Again, this is my opinion, you may or may not agree with it.

[Venkatesh]

Petrol and diesel prices cut for the first time in a year by a few paise a litre.



Source

[harry10]

Originally Posted by Venkatesh

Petrol and diesel prices cut for the first time in a year by a few paise a litre.

Attachment 2136778

Source

A 40 paise cut. Wow. Someone must have accidentally pressed cut than increase so let me do the tank full before it starts increasing again from tomorrow

[M00M]

I dont understand why personal pot shots are required. We are all having a civilised debate, just stick to the points. Do you even know if some of us are Economists / Lawyers / Tax Consultants ? How would you know or not know if i or anyone else is one of these above and i am sharing my views based on my research and my analysis or anyone else. Kindly refrain from such personal attacks.

Originally Posted by Ragavsr

The Oil Minister lieing with a straight face was pathetic to see and a real shame.

Boss, 90% of projects constructed are on BOT basis where the loan is borrowed , to be paid by the general public with tolls . The government doesn't make any net contribution. And the common man again suffers with expensive toll charges.

The GOV does make a contribution and provides the bridge loan and loan guarantees that are required in such projects and the contributions etc are recovered using these tolls. Oil Minister and FM think theyre trying to pull a magic trick on all of us regarding their irresponsible statements.

Originally Posted by carboy

No, we slowed down much before the global economy.

Our economy is still better than western economy, we are far better than others in the world order right now, just need to stay focussed and keep unnecessary expenses and corruption at bay.

Originally Posted by abhijeetd_swift

I have slightly different opinion here. Please don't hate me

Thank you for your opinion. Theres no need to hate you, you are an individual and entitled to your views. I agree with you, they will recover it from somewhere else, maybe even raise electricity charges when EV become mainstream, wait and watch.

Originally Posted by harry10

A 40 paise cut. Wow. Someone must have accidentally pressed cut than increase so let me do the tank full before it starts increasing again from tomorrow

Haha. Someone indeed pressed cut by mistake it seems. Time to tank up.

[Mortis]

I guess now is the best time to buy and use an electric car. Once they start becoming mainstream, there's no way the government isn't going to move them to a higher tax bracket and charge more for electricity.

[ABHI_1512]

Originally Posted by abhijeetd_swift

Why should less than 2% of taxpayers take care of entire nation?

Firstly, everyone is paying taxes across the spectrum and no, less then 2% of taxpayers are not responsible for the entire nation. At the cost of sounding repetitive in this very thread, direct taxes affect few but indirect taxes affect everybody and anybody.

Someone is taxed at 30% because that someone earns to that extent to fall in the slab. Of course it pinches but then one still can live a decent life despite paying the taxes. Now think of the auto wala or the rickshaw wala who doesn’t earn that much but still has to pay the same indirect taxes that a well off person pays too. Isn’t that a travesty ?

Off late, I have been hearing this very often that government needs money and that money has to come from the sale of petroleum products only !! Wonder how the previous governments functioned and where did they got the money to run a country !! The cascading effect of high fuel prices engulfs all and sundry and they all are contributing to the kitty of the government.

As I always say, deregulation of fuel prices is the biggest joke in this country and we, despite knowing this happily go around and think that we are paying because the crude prices are high !!

And now, election time and brain freeze time on the part of the fuel retailers

P.S- Nobody hates anybody here for having an opinion.

[AZT]

Petrol prices have been static for 17 days. With state elections over expect prices to start increasing now. This silly cycle needs to end, govt takes us for idiots.