Actual Petrol prices in India

Petrol Price at Vijayawada City of Andhra Pradesh (more in Mumbai) As on 25.06.2010.

 

Basic Price Rs 23.00
Central Excise Duty Rs 14.35 (Central Govt Tax fixed in Budget )
Education cess Rs 00.43 ( Central Govt Tax- 3% on Rs 14.35)
Crude oil Customs Duty Rs 01.15 ( Central Govt Tax- 5% on Basic Price)
Custums Duty on Petrol Rs 01.73 ( Central Govt Tax- 7.5% on Basic Price)
VAT Rs 07.59 ( A.P State Govt Tax- 33% on Basic Price)
Dealer Commission Rs 01.05
Trasportation Charges Rs 07.03
Total...............................Rs 56.33

 

 

Here what we have to observe is that the Cetral Government is collecting Rs 17.66 ( 76.78% on Basic Price) on 1 ltr petrole, Andhra Pradesh State Government is collecting Rs 7.59 ( 33% on Basic Price) total Rs 25.25 ( 109.78% on Basic Price). Actual Cost is Rs 23.00, Taxes are Rs 25.25. Because of these huge taxes Petrole prices are hiking.

 

 

Interesting:

In Real terms Government is not giving subsidy to the people on petroleum products. The Central Government collected in the form of Taxes of Rs 58,789Crs in 2002-2003, Rs 96,486 Crs in 2007-2008 ,Rs 84,298 Crs in 2008-2009 Rs 90,000 Crs In 2009-10 and Rs 1,20,000 Crs in 2010-2011( Budget Estimates)on petroleum products only. But the Government allotted to the petroleum Sector including subsidies Rs 57,535 Crs in 2008-2009, Rs 58,120 Crs in 2009-10, and Rs 69,495 Crs in 2010-2011.