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Old 18th October 2021, 12:50   #7426
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Re: The Official Fuel Prices Thread

Sums it up perfectly.
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Old 18th October 2021, 13:34   #7427
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Re: The Official Fuel Prices Thread

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Originally Posted by wildsdi5530 View Post
To be fair that was an era where income tax was upto 97%. Rice was Rs. 2 per Kg. Mutton was Rs. 26 per Kg. Most of our homes didn't have bathrooms and wee had to use common bathrooms in our society. TVs were a luxury and radio was listened to with friends and family. We used to walk/ cycle to school. Monthly bus pass was Rs.5/-. And still nobody was cribbing like this.

People certainly cribbed. My dad was one of those paying over 97% income tax. No internet then, so it was individual to individual cribbing.
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Old 18th October 2021, 13:38   #7428
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Re: The Official Fuel Prices Thread

Life is getting stranger than fiction 😂

The Official Fuel Prices Thread-6610d0dec4fa43b78efa8963c1e7af09.jpeg
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Old 18th October 2021, 15:07   #7429
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Re: The Official Fuel Prices Thread

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Originally Posted by AZT View Post
Life is getting stranger than fiction 😂

Attachment 2220574
Well, if they taxed the jet fuel on the same lines as petrol/diesel , airlines would go fly Kingfisher way sooner .

Since A1 jet fuel is kerosene with additives. Perhaps we should compare the prices with it rather than petrol/diesel.
IOCL site shows the price is ~Rs45 per liter in Kolkata. Strangely Chennai is at Rs15 (does the state Govt subsidize it?)! AFIK, only PDS kerosene is subsidized now.
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Old 18th October 2021, 15:15   #7430
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Re: The Official Fuel Prices Thread

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Originally Posted by whitewing View Post
Well, if they taxed the jet fuel on the same lines as petrol/diesel , airlines would go fly Kingfisher way sooner .
In general fuel taxes should be lowered across the board. Taxing Jet fuels less is subsidizing that at the expense of the common fuel running car.
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Old 18th October 2021, 16:39   #7431
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Re: The Official Fuel Prices Thread

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Originally Posted by kochup View Post
As much as all of us hate the rise in fuel prices, the fact remains this really is a blessing for taxpayers because being an indirect tax, all of us pays the same price for fuel which includes all the taxes.

As per the government, the collateral damage is just an edge condition because from their perspective
a) There are absolutely no protests due to this increase (even for LPG)
b) Usage has not come down drastically (considering WFH and Offline classes)
c) Everybody is out on the roads - Revenge Tourism, trend of people getting out after 18 months stuck at home (fuel prices not withstanding)
d) Demand for ICE vehicles is only growing - 50K XUV700 bookings in 3 hours averaging ~20L/vehicle for M&M (best case mileage ~15km/l), Creta waiting period is now 8 months, no manufacturer has vehicles without waiting periods.

Why are we complaining ?
Sorry for being blunt, but this just doesn't make sense. And I feel this thought is just plain stupid.

If fuel prices are hiked, it just not only the price of fuel which is high, but all the commodity, groceries and whatnot. Do you really want to pay a lot for veggies which we used to get for much lower just a year ago?

My usage was reduced from an already measly ~800 kms per month to hardly 150 kms now. What do you want me to do? Reduce it further and sit at home forever? Public transport in my town is a joke. And even though I am fully vaccinated, I wouldn't trust others and share my space with them at public transport? What else is there for me to do?

I feel the pinch of increasing price and I am not even poor. I am well paid from my business and earn a 6 figure salary per month. Can you think about the plight of poor people? I used to buy veggies for around 1200-1400 per month a year or two ago. Now, I am spending close to 2200(checked from budgeting excel) consistently and our eating pattern doesn't changed a bit. Same three people and same set of dishes.

Sorry if it feels like venting, but this is just how bad the situation is. I feel like, even protesting against the current government is going to be fruitful. I mean look at the farmers protest. Where it is now? And what is the outcome? I have lost hope on this government completely.
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Old 18th October 2021, 16:58   #7432
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Re: The Official Fuel Prices Thread

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Originally Posted by pavanmadhini View Post
With all due respect, this makes no sense. Under no convoluted perspective is this a blessing for anyone
Quote:
Originally Posted by xcentrk View Post
Sorry for being blunt, but this just doesn't make sense. And I feel this thought is just plain stupid.
I am as much affected as everybody here due to increasing fuel prices, a full tank diesel for me which used to cost me Rs 2600 - Rs 2800 is costing me double at close to Rs 5610. Rs 200 got me just 1.8L of petrol today.

As insensitive as i may sound (not intentional),the point is that even with majority of the population affected in terms of elevated fuel or daily use household expenses, there is absolutely no optics in terms of protests, media coverage or outrage (even with steady hike in LPG prices) which are highlighting the hardships due to which the govt is probably waiting to see how much it can increase.
Case in point is during elections price hikes are kept on hold or there are marginal decrease in prices.
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Old 18th October 2021, 17:02   #7433
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Re: The Official Fuel Prices Thread

Quote:
Originally Posted by Babruvahanaaaaa View Post
Sums it up perfectly.
Attachment 2220558



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Not perfect. 60% percent tax , 36.36 % petrol and 3.636 % Ethanol.

Last edited by anb : 18th October 2021 at 17:06.
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Old 18th October 2021, 17:11   #7434
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Re: The Official Fuel Prices Thread

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Originally Posted by xcentrk View Post
I feel the pinch of increasing price and I am not even poor. I am well paid from my business and earn a 6 figure salary per month. Can you think about the plight of poor people? I used to buy veggies for around 1200-1400 per month a year or two ago. Now, I am spending close to 2200(checked from budgeting excel) consistently and our eating pattern doesn't changed a bit. Same three people and same set of dishes.
Exactly ! I am amazed how people do not notice this expenditure !! The prices of veggies have almost doubled and when you ask the vendors why is it so ? Same answer everywhere - diesel rates are high so traders sell the veggies at high cost to cover up transportation cost. I sincerely hope people don't counter this with "well then grow your own veggies"
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Old 18th October 2021, 18:07   #7435
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Re: The Official Fuel Prices Thread

Is the revenue generated from this being used to fund the vaccination drive?
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Old 18th October 2021, 18:10   #7436
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Re: The Official Fuel Prices Thread

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Originally Posted by AZT View Post
In general fuel taxes should be lowered across the board. Taxing Jet fuels less is subsidizing that at the expense of the common fuel running car.
Can't agree more. Even logically, this is something that has to be brought under GST, but the Govt wallas know that fuel, booze, cigarettes are their revenue akshayapatra.

Quote:
Originally Posted by xcentrk View Post
I feel the pinch of increasing price and I am not even poor. I am well paid from my business and earn a 6 figure salary per month. Can you think about the plight of poor people? I used to buy veggies for around 1200-1400 per month a year or two ago. Now, I am spending close to 2200
Quote:
Originally Posted by Akshay6988 View Post
Exactly ! I am amazed how people do not notice this expenditure !! The prices of veggies have almost doubled and when you ask the vendors why is it so ? Same answer everywhere - diesel rates are high so traders sell the veggies at high cost to cover up transportation cost. I sincerely hope people don't counter this with "well then grow your own veggies"
I see this happening for me as well. Till now the saving grace for me has been that I don't have to commute because of the WFH. Kindof offsets the expense.
There is a reason why we are at the bootom in the huger index, yes, people are not dying, but we are a malnourished nation


But, I don't get the math.
Assume, a trader was spends Rs400 for fuel gets a total revenue of Rs 1000. Just because the fuel prices is now Rs 800 it does not justify the trader getting a Rs2000 revenue(should have been Rs 1400), which seems to be happening now.
There are some others apart from the Govt making hay when the sun shines.
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Old 18th October 2021, 20:17   #7437
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Re: The Official Fuel Prices Thread

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Originally Posted by deathwalkr View Post
Is the revenue generated from this being used to fund the vaccination drive?
I don't think so. For one, Tax increases on Fuel didn't start in 2020. They started in 2014 itself. Modiji has been increasing taxes on Fuel from 2014 on. Even when World Oil Prices were at 30$ a barrel, we were still not getting the benefit because each time Oil Prices dropped, Modiji increased Taxes on Fuel. Excise Duty in 2015-16 itself was twice was it was in 2014-15. He has been looting us for 7 years. In these 7 years. the Union Govt has made an additional 8.65 lakh crores of additional revenues over what they would have made without Modiji's tax increases.

The vaccine cost is probably around 30,000 crores (could be even lesser probably considering how 25% of the vaccines are done by private providers).

So 8.65 lakh crores of tax increases in 7 years to pay for 30,000 crores of vaccines. Just in 2020-21, itself Fuel tax increase was 1.5 lakh crores over 2019-20 (sharing source for the data ). I don't even have the guts to compare it with 2013-14.

And of course, there is PM Care fund. In the first 5 days, the fund got 3000 crores in donations. No idea how much is their current corpus, but I am sure it would be a good amount.

Last edited by Akshay6988 : 18th October 2021 at 20:22.
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Old 19th October 2021, 07:28   #7438
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Re: The Official Fuel Prices Thread

Don't know if this belongs here, and I don't know why I thought of it while I was going through this thread, but I just wanted to document it somewhere so I could claim some royalties if ever this idea was turned into a movie or TV series. Would definitely help pay for my petrol expenses.

Bollywood and Netflix could make a blockbuster series - The Money Heist (India special):

A very smart person, along with a team of loyal followers, assisted by a whole slew of shady organizations, hatches a sophisticated plan to rob an entire nation. Completely fictitious, unrelated to any real events or real people.
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Old 19th October 2021, 10:15   #7439
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Re: The Official Fuel Prices Thread

Quote:
Originally Posted by Akshay6988 View Post
I don't think so. For one, Tax increases on Fuel didn't start in 2020. They started in 2014 itself. Modiji has been increasing taxes on Fuel from 2014 on. Even when World Oil Prices were at 30$ a barrel, we were still not getting the benefit because each time Oil Prices dropped, Modiji increased Taxes on Fuel. Excise Duty in 2015-16 itself was twice was it was in 2014-15. He has been looting us for 7 years...
Call me an ignoramus but all the revenue generated from the tax on fuel would be with the Government right? And not into someone's pocket? If that be so, then would it be looting?

As for PM Cares fund, it was a voluntary donation fund right? Why drag that into this?
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Old 19th October 2021, 10:21   #7440
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Re: The Official Fuel Prices Thread

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Originally Posted by deathwalkr View Post
As for PM Cares fund, it was a voluntary donation fund right? Why drag that into this?
PM Cares is probably off-topic for this thread, but the view that it was an entirely voluntary fund is inaccurate:

https://www.thehindu.com/news/nation...le31383279.ece

"While the donations, meant for COVID-19 relief, were said to be “voluntary”, government circulars show that the deductions were made directly from salaries. Those unwilling to donate were asked to submit their refusal in writing."
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