Page 17 - June2018

oil prices

CNG price has
increased by `1.36
per kg in Delhi

that means being exceptionally greedy at the cost of not that not only petrol but electricity should also be brought
just the people but also the economy,” Kumar added. under the goods and services tax (GST).
The states, he said, on an average tax petrol at 27 per Petrol and diesel prices were raised for the 11th day in
cent. As regards the Centre, the NITI Aayog vice chairman succession today as the state-owned oil firms gradually
said they have the fiscal space and need to create more to passed on to the consumer the increased cost of interna-
deal with the problem of rising oil prices. “The centre has tional oil that had accumulated since a 19-day freeze was
fiscal space and it can create more fiscal space on the imposed just before Karnataka elections.
non-tax revenue side. Because last year we did very well. We The government raised excise duty nine times between
exceeded the Budget target. Maybe this year also we can November 2014 and January 2016 to shore up finances
do that,” Kumar said. as global oil prices fell, but then cut the tax just once in
He also said the centre could consider reducing the October last year by 2 a litre. The Centre levies 19.48 as
additional excise duty on petrol. It should not temper excise duty on a litre of petrol.
with infrastructure cess which is being directly used for
developmental activities, Kumar added. He also opined letters@tehelka.com

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