This is in sharp contrast to the revenue earned in FY13 which stood at Rs 98,602 crore. Govt’s earnings from petro products increased three times over a period of five years, primarily from rise in indirect taxes
Bhopal : Crude oil prices in the international market have come substantially down, but surprisingly the prices of petroleum products in India are on the rise, pinching the common man’s pocket. But then where is the huge money, being earned through several hikes in indirect taxes, going? Well, according to the government’s response to an RTI application, even as the money in the common man’s pockets seems to have developed wings, it is the government coffers that are benefiting from the high prices of petroleum products. During the financial year 2016-2017, the government earned a whopping Rs 2.67 lakh crore revenue on account of several increases in indirect taxes (Excise, Customs and import duties) on such products.
In response to an RTI application, filed by social worker Chandrashekhar Gaur of Neemuch district in Madhya Pradesh, the Directorate General of System and Data Maintenance (DGSDM) provided some data to suggest that in sharp contrast to the earnings of Rs 2.67 lakh crore in FY17, the revenue was only Rs 98,602 crore in FY13.
As Gaur had asked for the revenue accruing each year from 2012-13 until 2016-17, the information from DGSDM said that in 2013-14, the earnings from indirect taxes on the petroleum products stood at Rs 4,163 crore, which rose to 22,926 in FY15 and went up to Rs 23,825 lakh crore in 2015-16.
