Thursday, June 05, 2008

My Two cents on Petrol Price hikes!

First of all I don't own a vehicle. It's by foot to office and back. At Hyderabad, I have a cycle at home and nothing at college. I'm not one of those save the planet people! It's just that I like walking/cycling around.

As far as price rise goes ...Serves you right, all you karizma/bullet/pulsar200 owning show-offs :P I found out that the cost of production of pterol is somewhere around Rs.25 per litre!(courtesy CNN-IBN) The rest of it is taxes! Duty+tax+local sales tax etc... Considering 50% of the cost of petrol is tax, a price rise sounds kinda irritating coz in the extra Rs.5 we pay, again some portion goes to taxes. There are also some totally "blah" fundas some economist was giving on TV yesterday which made this sound an even more stupid thing to do. Also I hate the concept of Income tax! The government should scrap Income tax and have some form of unified sales tax. The finance guy at RSA told me that only 1~2% people in India pay Income Tax. With unified sales tax people won't be able to dodge taxes.

4 comments:

Anonymous said...

Borned free, now taxed to death.

Badrinath S. said...

i was completely shocked at the "1~2% of the population paying income tax" line. i cross checked it. just 20 million people pay income tax, less than 2%! never imagined it would be this bloody low.

the thought process behind this price rise makes more a bit more sense now. kerosene prices, if you had noticed are the same. petrol is increased by 10%, diesel by a similar amount, and kerosene, which is the main cooking fuel in India, stays the same.

2% of the population is biting the bullet for the remaining 98%. bloody shameful, eh? as long as the politicians have their vote banks, they wouldnt really care, would they?

Anonymous said...

I was shocked to know the fact that only 2% ppl pay Income tax.. Nevr imagined this no to be so low.. :O

And about the price hikes, we were also wondering, losses suffered by companies for each litre of petrol, diesel are to the tune of 25 Rs whereas it is 35 Rs for kerosene even then the rates for kerosene havent been hiked.. :O

Anonymous said...

What about this AP is poorer than Bihar

Its an old story but...neway
Central govt gave some 3000 crores to help these BPL families. May be bcoz Congress is in center.