A survey has mentioned that 69 per cent respondents want the government to reduce excise duty on petrol and diesel to bring down the fuel rates that have touched record highs.
As central excise is 1 of the two big elements of the rates of fuel, moderation in the duty will provide succour to men and women who are facing the heat of financial slowdown and earnings disruption due to the COVID-19 pandemic, according to the survey performed by Local Circles, a neighborhood social media platform. “The aggregate percentage of responses from 69 per cent citizens want the government to reduce excise duty on petrol and diesel. Of which, the majority of citizens want the prices to be reduced by 20 per cent or by Rs 6 or more for both petrol and diesel,” it mentioned. If accomplished, it will minimize the cost of petrol to Rs 78 per litre and diesel to Rs 68 per litre in Delhi and similarly across India exactly where the effect to the citizens is even larger, it mentioned, adding, Delhi has 1 of the lowest rates of diesel and petrol in the nation.
The survey had 9,326 responses from citizens residing in 201 districts of India. Of this 71 per cent respondents have been guys although 29 per cent respondents have been girls. Petrol cost on Thursday scaled to an all-time higher of Rs 84.20 per litre in the national capital soon after state-owned fuel retailers hiked prices for the second day in a row.
Petrol cost on Thursday was hiked by 23 paise per litre and diesel by 26 paise a litre, according to a cost notification from oil marketing and advertising corporations. In Delhi, petrol now expenses Rs 84.20 per litre and diesel is priced at Rs 74.38. In Mumbai, petrol comes for Rs 90.83 a litre and diesel for Rs 81.07.
Of the Rs 84 per litre that commoners spend at the pump, the actual worth of the petrol is only Rs 26 although the rest are taxes, duty and dealer’s commission, the survey mentioned.
The central government charges Rs 32.98 (125 per cent of the base cost) as excise and the Delhi government levies Rs 19 (72 per cent of the base cost) per litre on petrol Value-added Tax (VAT), it mentioned, adding, comparable levies in commission and taxes are applied on diesel.