The central government can now reduce the tax on petrol per liter to give relief to the common man amid the skyrocketing prices. Crude oil on the world market is estimated at about মার্কিন 60 USD per barrel. Analysts at Bank of America (BOFA) say that we have projected the fiscal deficit to increase by 30 basis points to .5.5% of GDP for FY 2012-12.
With this, the oil duty will be deducted up to five rupees per liter. A reduction of Rs 5 per liter on petrol and diesel will increase the burden on the central government by Rs 1.7 crore.
The price of crude imported into India is around 62 62 a barrel এটি It was close to এটি 50 a barrel in mid-December last year. Crude oil prices are rising as global demand for crude oil recovers and OPEC (crude oil) production declines.
On Thursday, the price per liter in the capital reached an all-time high of Rs 90.93. It has increased by 5.23 / liter as compared to the previous month.
At present, the Center has imposed a duty of Rs 32.98 per liter and Rs 31.883 per liter on petrol and diesel in Delhi. GST was introduced on July 1, 2017, but petrol and diesel were kept away from it as the central and state governments fed the infidels.