Articles

Taxes on Petroleum in India

Date: 9th May 2018

If we focus on Oil(petrol/diesel,etc) prices and the tax imposed by State and Central governments in comparison with world markets, we’ll quickly notice how the high prices are mainly due to the taxes imposed. It’s also well known that oil/fuel prices in India's neighboring countries are much lower than what we have here at home. Fuel in this day and age is essential to survival and should not attract high taxes as the Luxury goods do.

When fuel prices go up, prices of everything else goes up right alongside with it. It’s a heavy burden on the economy. Including Petrol/diesel into GST can bring the prices down dramatically and to a reasonable level providing a much needed economic relief to the citizens. It’s going to be a huge boost for the economy and also be directly responsible in reducing the already high, rising further and faster, cost of living.

The entire video of the analysis is added below.