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Analysis: Will petrol be sold at Rs 100 per liter in Modi government

Friday - September 7, 2018 1:04 pm , Category : WTN SPECIAL

Falling rupee and expensive crude oil increase the prices of petrol and diesel, the government also does not provide relief

SEP 07 (WTN) - Will the petrol be sold in the country at a historic price of Rs 100 per liter in the rule of Prime Minister Narendra Modi? We are saying that because the price of petrol and diesel has been steadily rising since last several days. Talk about today, so today the price of petrol in Mumbai increased by 48 paise, after that one liter petrol in Mumbai is sold for Rs 87.99, which is the highest price so far. In Mumbai, diesel has been costlier by 55 paisa one liter, followed by diesel is being sold at Rs 76.51 one liter in Mumbai.

Talk about the same thing in Delhi, so the price of petrol in Delhi has gone up to Rs 79.99 per liter, then one liter diesel is being sold in 72.07 rupees per liter. The common man is getting disturbed by the increasing in petrol and diesel prices, but the central government has made it clear that there will be is no relief for common people at this time. Two days back, finance minister Arun Jaitley had refused to cut excise duty to provide relief in the prices of petrol and diesel.

The government argues that the prices of petrol and diesel are increasing due to the rising dollar against rupee and rising crude oil prices in the international market, these factors are the reason that petrol and diesel are being costlier. If the government do not provide any relief, while the rupee remains weak and crude oil prices continued to rise in the international market, then the day is not far when the petrol for the first time in the country would be sold at price of Rs 100 per liter, and it would happen in Prime Minister Narendra Modi’s rule.

It is the dogma of the central government that they are not reducing excise duty, otherwise if the excise duty on petrol and diesel is reduced, and then the public will get a lot of relief. For your information, let you know that the central government charge excise duty Rs 19.48 per liter on petrol and Rs 15.33 per liter on diesel. Apart from this, the states levy VAT or sale tax separately which is different in different states. That is, at least around 30 rupees are levied as tax on one liter petrol or diesel by both central and state government.

For your information, let you know that in the coming days, there is a possibility of a global trade war between China and the US, which will further weaken the rupee against the dollar. Along with this, there is no specific reduction in crude oil prices. In such a situation, if the central and state governments would not reduce the tax on petrol and diesel, then the day is not far when petrol would be sold at the rate of Rs 100 per liter in the country first time.

If the price of petrol increases 20 to 30 paisa per day, then after 55 to 60 days, for the first time in India, petrol would be Rs 100 per liter, and if this happens it would be the biggest ‘blot’ on the Modi government's rule. It is being said that the increasing in the prices of petrol and diesel can be stopped at the time of assembly elections in Madhya Pradesh, Rajasthan and Chhattisgarh. As it was during the Karnataka assembly elections, the price of oil had not increased for around 16 days. But the big question is whether only Prime Minister Modi feels the pain of the general public at the time of elections.
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