Petrol, diesel excise hike can add Rs 1.4 trn to govt's coffers: Barclays


The sharp hike in excise duty for auto fuels – petrol and diesel – is likely to add Rs 1.4 trillion to the government’s kitty, says the latest report by Barclays. The projection assumes that demand for both petrol and diesel will fall 12 per cent in FY20-21 as the economic activity in the country gets hampered on account of the Covid-19 related shutdown.
Apart from the increase in central government taxes, several states and union territories, including Delhi, Haryana, Assam, Punjab, also have raised the state tax on fuel. This is likely to result in a modest rise in fuel prices to rise modestly, given that the increase in the government’s tax should not lead to higher fuel prices owing to the significant drop in crude oil costs through April. Read More

Comments

Post a Comment

Popular posts from this blog

Instagram adds group video call, new camera effects to app: How they work

Image
The new video chat feature enables app users to chat and make video calls, even group video calls, from the Direct. Here is how the new features work                                  Technology News : Instagram, a photo-sharing social media platform owned by Facebook, on June 26 announced a new update that introduces the video chat feature and new camera effects for stories to the app. The new video chat feature enables app users to chat and make video calls, even group video calls, from the Direct. Here is how the new features work: Video chat Now, you can video chat in Instagram Direct, either with just one person or a group. To start a video chat, go to Direct inbox and open any message thread. Tap on the new camera icon, in the right corner, and your friends’ phones will ring. While on the video chat, you ca...
Read more

3 Investment Strategies for Financial Independence!

Image
  Dreaming of a life free from financial worries? Achieving financial independence, where you can pursue dreams and secure your family’s future, often feels out of reach amidst debts and expenses. But fear not. This guide offers actionable steps to help you break free from financial constraints and embrace true freedom. Financial freedom is the power that allows you to live life on your terms, fulfilling dreams for yourself and your family without the pressures of a job, with the freedom to choose any path. But this dream remains out of reach for many. Growing debt, and unwanted expenses, there are many paths that lead us away from financial freedom. But worry not. If you are about to take your first step towards financial independence , we are here to support you. Let’s dive in. What is Financial Independence? The definition of financial independence can vary for everyone. For some, it could mean a debt-free life. For others, it could be having a stable job that meets th...
Read more

G7 pledges 870 mn Covid vaccine doses, half to be delivered by 2021-end

Image
  Leaders of G7 countries have agreed in an agreement at their summit to share at least 870 million doses of Covid-19 vaccines directly, at least half of which are to be delivered by the end of 2021, the World Health Organization (WHO) said on Sunday. In a statement, the WHO said the G7 countries have reaffirmed their support for COVAX, a WHO-led international campaign for equitable access to Covid-19 vaccines globally, as "the primary route for providing vaccines to the poorest countries", Xinhua news agency reported. While welcoming the G7's commitment, COVAX partners have also called for their continued support for exporting the vaccines in significant proportions, promotion of voluntary licensing and not-for-profit global production. COVAX has been facing an urgent supply gap, according to the WHO, and is focused on securing as many shared doses as possible immediately. It will work with the G7 and other countries that have stepped up to share doses as rapidly ...
Read more