India National Opinion

Burning Fuel : 16.57 Lakhs Crores collected by BJP government in 4 years but…

BJP  government that has got clear cut majority  in the 2014 elections  and then  in this 4  years as per available data   it has mopped up Rs 16.57 lakh crore as tax revenue from petroleum product sales, mainly from petrol and diesel.

Modi Government got twin advantage  ., one is majority run government and second is  natural advantage of lesser crude oil prices that gone down  to 32 US$ low .,  and average mean calculated  fuel price around 54 US$ ., but on the other hand  Manmohansingh UPA II run government in 2009~2014 suffering from  two major hurdles  to swim across.,  one is  12 parties switched alliance  driven  government  and second is sky rocketing crude price that went ahead  120$ bracket.

Even when crude oil price was in peek former PM Manmohansingh restricted fuel price not crossing 74 Rs in local sales . A close look at present government  tax collection  data throw hard questions to answer   for the ruling establishment.   

Cess Custom tax rates collected and Contribution to Exchequer 

In financial year 2016-17  growth in the government’s revenue from petroleum products was 25 % whereas   if one  apply same  yard stick growth in the government’s revenue from petroleum products  in previous Manmohan singh era 2014-15 and 2013-14, then it was   around only 9-10 %  each.

In 2016-17, the government’s revenue from the petroleum sector was Rs 5.24 lakh crore, accounting for 3.5 percent of GDP. 

In the preceding year, the ratio was 3.1 percent. By comparison, during 2012-15, the ratio was around 2.8 percent. 

If we take the break up of Rs 5.24 lakh crore, then the central government’s excise duty constitutes Rs 2.43 lakh crore that  46 percent. 

The state government’s sales tax and VAT account for Rs 1.66 lakh crore or 32 percent.

This figure amply expose the NDA BJP modi government has been keenly considering  incoming route revenue only but forgetting the  Consumers common people who paid  higher  prices all along been denied the benefit of lower international crude oil prices ..

According to forbes magazine the Chairman of the Reliance Industries, Mukesh Ambani has grown richer by $16.9 billion in 2018 with the net worth $40.1 billion. In 2017, he was on the 33rd position in the magazine’s list with the net worth of $23.2 billion. Ambani climbed up to the 19th global rank on the Forbes’ list of 2,208 billionaires worldwide this year . It is important to note ambani prime revenue is from petro industries catering to Indian market 

This now force  the common man to the corner and made to ask where our hard earned  paid fuel  monies are going Mr.Prime Minister 

SaVeRa Has completed Applied Sciences in Thaigarajar Engineering College, Madurai and done PG Diploma in Foreign Trade and also obtained “Distinction“ in MBA from Madras university, Chennai. He Worked in UAE in International Trade for two years and then Started own business the age of 28... Due to genocide problem in Srilanka he resigned his treasurer post Indian Asean Srilanka Chamber of Commerce in 2009. He petitioned Sailesh Gandhi, Information Commissioner who is also grandson of Mahatma Gandhi and obtained the right to obtain Information from Central goverment under 8(1)(h) of RTI act. He has urge for writing and thanks to the advice from his friends founded a social media channel. He has interests in Aquarium, Organic Agriculture and reading.

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