Narendra Modi presented the much needed gift to the common man, celebrating this Diwali. On Wednesday, the Central Government slashed the excise duty on diesel and petrol by Rs.10 and RS.5 respectively. This will definitely provide relief to the consumers as the pump rates have gone down. When we asked a consumer, he was very excited. He said,'We are extremely happy. No other gift could have been much better than this one. We are too much happy! Happy Diwali!'
In Mumbai, calculations say, the duty cut will bring down the price of petrol by Rs.6 per litre and diesel by Rs.10 per litre. Since every state has its own Value Added Tax or VAT charges levied within its territory, the charges will very. But it would not make much difference.
Following the path shown by the Central Government, many state governments like Utter Pradesh, Goa, Kerala, Karnataka, Uttarakhand,Assam, Manipur, Tripura and Bihar had also cut VAT on fuel. Interestingly, Bharatiya Janata Party governs all these states except Bihar. Experts say,'Since Uttar Pradesh, Goa, Uttarakhand, Gujarat and Manipur are to witness polls next year, this is one political game they played.'
Political exeprts are assumpting that other taxes might rise to bridge this gap. Almost, ₹60,000 - ₹65,000 crores are needed. This is just some political game played to create illusions. One of the Central Official spoke to the media,'Indian farmers have, through their hard work, kept the economic growth momentum going even during the lockdown phase and the massive reduction in excise on diesel and petrol will come as a boost to the farmers during the upcy Rabi season.'
It was one of the most common assumptions also made by the experts that Trinamool Congress, led by Mamata Banerjee, is sure to slam the"Diwali Gift". Moreover, this time, Congress also added fuel to this protest. It is seen that the crude prices have seen a gradual hike in recent times, the price of petrol is currently the highest, above hundred in almost all parts of the country.
One statement said,'The World has also seen shortages and increased prices of all forms of energy. The Government of India has made efforts to ensure that there is no energy shortage in the country and that commodities such as petrol and diesel are available adequately to meet our requirements.'
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