While there has been no change in the price of petrol and diesel for the past 23 days, the Government of India has made big money through petrol and diesel in the last 6 years. Between 2014 and January 2021, tax collections on petrol and diesel increased by 300 per cent. The government presented this information in parliament on Monday.
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In 2014-15, the Modi government paid Rs 29,279 crore on excise duty and Rs 42,881 crore on diesel. At the same time, in the first 10 months of the current financial year (2020-21), the government has raised Rs 2.94 lakh crore on petrol and diesel. In 2014-15, the government has allocated Rs 74,158 crore for natural gas. If earned, the government’s revenue will be Rs 2.95 lakh crore for the period from April 2020 to January 2021. Responding to a question in Parliament, Union Finance Minister Anurag Thakur said, “The revenue collection of petrol, diesel and gas was 5.4 per cent in 2014-15, up from 12.2 per cent in the current fiscal.”
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The excise duty on petrol increased to Rs 32.90 from Rs 9.48 per liter in 2014. The excise duty on diesel has been increased from Rs 3.56 to Rs 31.80. Anurag Thakur in Parliament said, “On March 14, 2020, the central excise duty on diesel and petrol has been increased by Rs 3 per liter. On 6 May 2020 the excise duty was again increased. Petrol was later increased by Rs 10 per liter and diesel Rs 13 per liter. In his reply, the finance minister said, “The government is using this money for development purposes.”
