[GS-R]

I wouldn't be too surprised if within this week, the government makes a big announcement of either holding the prices or rolling back a portion of the taxes they imposed with obviously an eye on the upcoming elections in many states and center.

We will start seeing trickle down effect on various sector with the high fuel prices and will only impact the inflation. RBI is trying to hold the rates, but not sure for how much longer.

Let's see what tomorrow brings.

[emkay.india]

Looks like our PM is having a "discussion" on increasing fuel prices. For sure they'll bring it down during election time but that's still a good 7-8 months away (if planned in May '19) and going by the rate of increase each day it would cross 120 per litre by that time and decreasing 20 rs per liter will still not be sufficient.

[sairamboko]

And it begins! Petrol and diesel excise duty cut :

https://m.timesofindia.com/india/bre...g/66062572.cms

[mukeshgoel]

Petrol & diesel price to be slashed by Rs 2.5

[deadguy25]

Originally Posted by mukeshgoel

Petrol & diesel price to be slashed by Rs 2.5

If the fuel price is reduced by the quoted amount, then I think the effective reduced price would be greater than that due to the reduced taxes for that amount? OR would the effective price reflect only a reduction of INR 2.5?

[emkay.india]

Originally Posted by deadguy25

If the fuel price is reduced by the quoted amount, then I think the effective reduced price would be greater than that due to the reduced taxes for that amount? OR would the effective price reflect only a reduction of INR 2.5?

Whenever they say an increase of xx paise or rupee, the effective price only increases. Likewise with reduction as well. We need not worry about tax calculation, the effective reduction will be 2.5 rupee per liter and that still makes it 85.xx in Chennai

[dailydriver]

Originally Posted by mukeshgoel

Petrol & diesel price to be slashed by Rs 2.5

I am flabbergasted by this measure. What will happen to the nation? Worst things were predicted to befall if the excise duties on fuels are cut. Will we able to escape the trap now?

Reducing taxes on fuel could push India towards unmanageable debt

We must remember that the economy and the markets reward structural reforms, fiscal prudence, and macro-economic stability. They punish fiscal indiscipline and irresponsibility

The Hindu

...reduction in excise duty, which makes up for a quarter of retail fuel price, is not advisable if the government is to stick to the path of reducing budgetary deficit

TOI

While news channels are predicting a net revenue loss of more than ₹20,000 crores, I have started worrying about the means through which I - the common taxpayer - will have to make good that loss.

[fiat_tarun]

MH & GJ governments match the Rs.2.5 cuts via VAT reductions taking the total reduction to Rs.5 in these states. Finally some relief !

https://www.indiatvnews.com/news/ind...updates-468443

[emkay.india]

If only TN does the same. And to think that only this morning after much thought whether to fuel up while going to work or while returning back and decided to fuel up by Rs.1000 :(

[pavi]

Originally Posted by fiat_tarun

MH & GJ governments match the Rs.2.5 cuts via VAT reductions taking the total reduction to Rs.5 in these states. Finally some relief !

https://www.indiatvnews.com/news/ind...updates-468443

Finally some relief (for how many days)!! It seems sarcastic to me. People are happy that the price is reduced. We are being fooled by our current government mechanism, they might have the plan in place to increase the price by 2.50 Rs. ASAP negating the reduction happened. So in effect they succeeded in creating 'we for the people', and do I need to explain any further??? you can read my mind.

[saket77]

State VAT cut in 10 states matching the excise cut by central govt (plus OMC's hit) making the total reduction Rs. 5/- per liter. States to cut VAT are:

1. UP
2. Gujarat
3. Maharashtra
4. Jharkhand
5. Tripura
6. Madhya Pradesh
7. Chattisgarh
8. Haryana
9. Himachal Pradesh
10. Assam.

Some more states may follow.

Src:https://timesofindia.indiatimes.com/...w/66070523.cms

[ghodlur]

Originally Posted by fiat_tarun

MH & GJ governments match the Rs.2.5 cuts via VAT reductions taking the total reduction to Rs.5 in these states. Finally some relief !

https://www.indiatvnews.com/news/ind...updates-468443

The news I heard was that in Maharashtra the additional 2.5 rs cut over and above the centre cut of Rs 2,5 rs was applicable only for petrol and not for diesel. Thats what is there on twitter too. Can somebody confirm if the state cut is for both the fuels.

This fuel cut is a just a carrot before the Rajasthan and MP elections.

[rav11stars]

This might be totally off-topic:
As much as we love revving and riding our rides, I'd say it's time we, the entire human race get back to our senses and start acting in the best interest of the generations to come.

I know we all love to drive, but driving at the cost of endangering the future? Doesn't look like a sensible choice. I know that in most of our cases we don't have much of a choice too.

I sometimes get that restless feeling just imagining what's it going to be with the climate changes and sort of worry that whatever we're doing right now(laws to bring down emissions and move to electric) isn't already late?
It really hurts how in the rush to gain power, we've ignored the perils fossil fuels are going to bring. It's not that we were not aware of the alternatives. It's just that we didn't care enough, just like the way we did with leaded fuel.

https://renewablebook.wordpress.com/...xcerpts/350-2/

https://www.bie-paris.org/site/en/bl...n-of-sun-power

I feel helpless thinking about what can I/We do? I'm sure there are many like me who share the same feeling. I've seen a brother share an article about a compost pot so we can recycle the kitchen waste. I'd say we need to change the perspective with which we see things. We probably need to put Nature in perspective in everything we do.

Everything we consume(buy/use/throw away) are a part of this environment we live in. For example, we can actually think before we're going to buy a mobile just because we're getting it for cheap; The "use and throw" policy. But do we actually care a thought as to where it'll end up once we throw it? E-waste.

I've seen friends/colleagues buy some shoes and many such fancy stuff just because they're affordable; so we can buy, use them for 3-4 months? and then throw them away. All this stuff that we're using and throwing away got to end somewhere. Isn't it?
Didn't we use to buy things just because they last long? I know everyone has their own viewpoints and a lot of arguments to support the opposite of this. A lot of thoughts stating power from waste or roads from waste. Aren't all these workarounds? Ideally shouldn't we be generating less waste or bio-degradable waste? I'm not saying we can do away with the plastic.But we could've surely generated less of it.

Do we know where the landfill/dump-yard is for the city that we're living in? When I was in Pune, I read a news article about villagers protesting and preventing trash from being dumped near their village. Who'd want to? Just try/imagine storing and burning the trash our housing society accumulates in a day right within the compound. We'll be all over the internet.

I'm sorry that I couldn't stop writing and didn't want to just discard it now. So I'm just ending it abruptly. I just want to blurt out my thoughts.

P.S : All I wanted to say is, it'd be so nice if we think before we act in everything we do or else all we can save for the future will be some digits in some virtual space.

[fiat_tarun]

Originally Posted by ghodlur

The news I heard was that in Maharashtra the additional 2.5 rs cut over and above the centre cut of Rs 2,5 rs was applicable only for petrol and not for diesel. Thats what is there on twitter too. Can somebody confirm if the state cut is for both the fuels....

I think you are right. MH has cut VAT only on petrol.

[GS-R]

Originally Posted by HentaiDesi

I wouldn't be too surprised if within this week, the government makes a big announcement of either holding the prices or rolling back a portion of the taxes they imposed with obviously an eye on the upcoming elections in many states and center.

We will start seeing trickle down effect on various sector with the high fuel prices and will only impact the inflation. RBI is trying to hold the rates, but not sure for how much longer.

Let's see what tomorrow brings.

Seems like I was right on the money! I am sure suddenly we hear something to the effect of the deficit being in control and that we are able to cut another 2.5 Rs or 5 Rs in a couple of months.

Well atleast the upcoming elections brings some expected relief.