Congress appeals party workers to ensure violence-free Bharat bandh

Congress appeals party workers to ensure violence-free Bharat bandh

Congress appeals party workers to ensure violence-free Bharat bandh

Amid the Opposition-sponsored nation-wide shutdown, the Bharatiya Janata Party (BJP) on Monday released a couple of graphics describing the percentage hike in both petrol and diesel prices. Addressing a gathering at Bharat Bandh protest in Delhi, Rahul Gandhi said that his party has joined hands with the Opposition to make sure that they kick BJP out from the power.

Petrol and diesel prices set new records on Sunday as they continued their upward march on fall in rupee and surge in global crude oil rates. The percentage increase was 20.5.

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The officer said police personnel have been deployed at petrol pumps across Delhi to ensure no untoward incident takes place.

The soaring prices are continuing to burn a hole in the pockets of commuters, one of whom feels he may have to avail bank loans to pay for fuel.

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Petrol increased to Rs 88.12 per litre and diesel at Rs 77.32 per litre (increase by Rs 0.23 per litre) in Mumbai, the day Congress called Bharat Bandh over the rise in fuel prices.

Fuel rates have been on fire since mid-August, rising nearly every day due to a drop in rupee value and rise in crude oil rates. Nearly half of the retail selling price of petrol and diesel is made up of central and state taxes.

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Nonetheless, given the transportation cost, the fuel prices in Kerala are higher than even states where there is a higher sales tax. Delhi charges a Value-Added Tax of 27 per cent on petrol and 17.24 per cent on diesel. Union Petroleum Minister Dharmendra Pradhan also attributed the hike in fuel prices mainly to rupee depreciation. The tax ratio can be raised not by increasing rates but by bringing evaders and non-filers in tax net. This led to its excise collections from petro goods more than doubling in last four years - from Rs 99,184 crore in 2014-15 to Rs 2,29,019 crore in 2017-18. However, on June 16, 2017, a new scheme was implemented under which prices were to be revised every morning This shift from administrative price mechanism (APM) to dynamic pricing was done to ensure that the benefit of the smallest change in worldwide oil prices can be put into effect by dealers. Here is the case of petrol: from Rs 9.20 a litre it shot up to Rs 19.48 per litre for petrol.

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