tag:blogger.com,1999:blog-11600385.post2676007612777014447..comments2020-03-13T19:57:57.388+05:30Comments on Bhim's Eye!!!!!!!!!!!!!!: Fuel price hikeamey ashok kulkarnihttp://www.blogger.com/profile/14320253982459296089noreply@blogger.comBlogger8125tag:blogger.com,1999:blog-11600385.post-58665555928251417012008-06-11T13:58:00.000+05:302008-06-11T13:58:00.000+05:30dudes o dudes,why doesnt someone of you give UPSC ...dudes o dudes,<BR/><BR/>why doesnt someone of you give UPSC and join the Beurocrats...<BR/><BR/>You guys would prove be excellent ones...<BR/><BR/>What say Bhutebhai! (I know you wont agree)THEPROPHEThttps://www.blogger.com/profile/00764159912943187378noreply@blogger.comtag:blogger.com,1999:blog-11600385.post-88245426192195024962008-06-05T22:50:00.000+05:302008-06-05T22:50:00.000+05:30The government has done exactly what you have said...The government has done exactly what you have said. In fact the Left governments which were prompt to cut states sales tax, did exactly this, they got rid of the incremental sales tax.<BR/>But, the real irony is the multiplicity taxes, excise, customs, sales tax, VAT (yes), education cess etc. <BR/><BR/>Just reducing the taxes will no longer help as the crude price has increased tremendously threatening to create fiscal havoc.amey ashok kulkarnihttps://www.blogger.com/profile/14320253982459296089noreply@blogger.comtag:blogger.com,1999:blog-11600385.post-42421621352848501142008-06-05T22:36:00.000+05:302008-06-05T22:36:00.000+05:30Now as the oil barrel rate increased from say $80 ...Now as the oil barrel rate increased from say $80 to $150, the amount of custom and excise percentages have remained the same. Now say the tax is 10% of the cost of a barrel, which at the time of the budget was around $70, the govt earns around $7, as per planned.<BR/><BR/>Now the same 10% to $150, is around $15, which is very high and additional income. Here, I feel that now that the Govt has got its $7, it needs to reduce the duty to say 5% so that the petrol incremental costs aren't passed to the people.<BR/><BR/><BR/>-- Ur Views on this point appreciated.Varun Rajkumarhttps://www.blogger.com/profile/09284903116073114780noreply@blogger.comtag:blogger.com,1999:blog-11600385.post-41749526041768545022008-06-05T10:24:00.000+05:302008-06-05T10:24:00.000+05:30Tax on petroleum has multiple layers. Fuel tax com...Tax on petroleum has multiple layers. <BR/>Fuel tax composes about 40% of the central government taxes. On top of that, the states impose a sales tax. With state having limited taxation capabilities, taxing fuel is an easy source of income.<BR/>Thus, reducing taxes is politically very difficult. <BR/>But, what is the point in keeping high taxes and then providing subsidies? The worst part of oil bonds is that, they don't reflect on the GOI balance sheet: only the interest payment is accounted for which is substantial. And oil bonds mean somebody has to repay them and this somebody is the next government.amey ashok kulkarnihttps://www.blogger.com/profile/14320253982459296089noreply@blogger.comtag:blogger.com,1999:blog-11600385.post-6501740182187396042008-06-05T10:19:00.000+05:302008-06-05T10:19:00.000+05:30Comments appreciated, will put in some references ...Comments appreciated, will put in some references next time. <BR/>But, on the post I am always making a philosophical point, 5-10% error in the figures doesn't change the argument unless the reader believes that I am quoting entirely false statstics.amey ashok kulkarnihttps://www.blogger.com/profile/14320253982459296089noreply@blogger.comtag:blogger.com,1999:blog-11600385.post-80391504553276174662008-06-05T10:04:00.000+05:302008-06-05T10:04:00.000+05:30yea dude ... u r into a MBA now ... put ur facts a...yea dude ... u r into a MBA now ... put ur facts and figures in a orderly fashion ... will go a long way in stressing your important points n making petty souls like us understand the issue holistically. <BR/><BR/>n as far as pictures are concerned, try not mixing them with serious topics like this. will obviously distract us from ur writing skills. <BR/><BR/>n thanx for ur comments on my blog. appreciate it.Anonymoushttps://www.blogger.com/profile/04277894832989716092noreply@blogger.comtag:blogger.com,1999:blog-11600385.post-7307431049760985282008-06-04T23:15:00.000+05:302008-06-04T23:15:00.000+05:30Citations and cross-references needed. Otherwise y...Citations and cross-references needed. <BR/><BR/>Otherwise you are just blowing smoke out of your ass.Rohit Bhutehttps://www.blogger.com/profile/07737314986734305687noreply@blogger.comtag:blogger.com,1999:blog-11600385.post-54072319369005778712008-06-04T23:08:00.000+05:302008-06-04T23:08:00.000+05:30First things first... that Katrina PIc sucked big ...First things first... that Katrina PIc sucked big time.<BR/><BR/>Now to the more important thing: As much as I Understand that the supply and the demand needs to balance it self, Lets take this scenario:<BR/><BR/>When the finance minister devised the budget this year, the dollar rates were below 38. A cheaper dollar meant that he's earned more amount of money(as he's got petrol cheap). <BR/><BR/>Now as the oil barrel rate increased from say $80 to $150, the amount of custom and excise percentages have remained the same. Now say the tax is 10% of the cost of a barrel, which at the time of the budget was around $70, the govt earns around $7, as per planned.<BR/><BR/>Now the same 10% to $150, is around $15, which is very high and additional income. Here, I feel that now that the Govt has got its $7, it needs to reduce the duty to say 5% so that the petrol incremental costs aren't passed to the people.<BR/><BR/>The Left is very much correct when they say this. I would have loved to have them built more IIMs, but the goverment at this moment need to reduce duty at this point of time to help this settle atleast now.<BR/><BR/>Yes, in the long run, they need to increase the price. I understand this as well.Varun Rajkumarhttps://www.blogger.com/profile/09284903116073114780noreply@blogger.com