The Government of India has decided to increase the excise duty on the export of Airplane Fuel (ATS) and Petrol-Diesel. According to the notification issued by the government, it has been decided to increase the export excise duty on petrol by Rs 6 per liter and on diesel by Rs 13 per liter. At the same time, the central export excise duty on the export of airplane fuel ATF has been increased by Rs 6 per liter.
The government has also decided to impose an additional tax of Rs 23,230 per tonne on domestically produced crude oil to control the windfall gains to oil producers after rising oil prices in the international market. According to a notification issued by the Finance Ministry, the government has also increased the customs duty on gold from 10.75 percent to 15 percent. On behalf of the government, it has been said that this step has been taken to help reduce the current account deficit.
What will be the effect on the common man?
After this decision of the government, a debate has started on whether this decision will also affect the prices of petrol and diesel available to the common man? The answer to the question has been given in the notification issued by the government itself. In the information issued by the government in this regard, it has been said that this decision will not affect the common man. This decision of the government will only and only on petroleum products exported outside the country.
The government's decision will not have any effect on the common man
There will be no direct impact of increasing this export excise duty on the common man. With this increased tax by the government, it is possible to keep the prices of petrol and diesel under control. If the charge of export duty has been increased, then it means that now it will become more expensive to export these things outside the country than before.
With this decision, the export of petroleum products is expected to reduce, at least. With this decision of the government, it will be ensured that there is no shortage of petroleum products in the country. Because of this, this decision of the government will prove beneficial for the common man and not loss.
Private companies are earning big profits by exporting oil
Let us tell you that at present, oil companies were importing crude oil domestically, refining it, and exporting it to foreign markets, due to which their export was getting. This could have created a threat of a shortage of these petroleum products within the country. The government has tried to save the situation from worsening in time by deciding to increase the excise duty on the export of petrol and diesel from the country.
One thing is certain here that this decision of the government will not increase any burden on the common customer. Since the companies were exporting more and earning foreign exchange, but by doing so, oil was falling short of the domestic market and there was a risk of an oil crisis in some states of the country, so the government has taken this decision.
An increase in export duty will not affect the prices of petrol and diesel
Excise duty levied on exports is different from normal excise duty. This will not have any effect on the domestic prices of petrol and diesel. However, due to reduced exports, many big companies may see a reduction in profits. For this reason, as soon as the news of increasing excise duty on exports by the government came on Friday morning, there has been a big fall in the stock of Reliance Industries. The shares of Reliance registered a fall of up to 7 percent on Friday. RIL has broken down to around Rs 170 per share.
This will be the advantage of increasing the export excise duty
After the decision of the Central Government to increase the export excise duty, the supply of fuel in the country will increase. The shortage of fuel which was seen in some states of the country in the recent past will not be like that. Market experts believe that the government's decision to increase excise duty on exports will also help in controlling the prices of petroleum products in the country.
Corona again knocked in China: Lockdown imposed in resort city, more than 80 thousand tourists stranded; Flights coming from abroad canceled
Corona has once again knocked in China. More than 80 thousand tourists are stuck in the resort city of China. Which is known as the Hawaii of China. 483 Covid cases were reported in Sanya city on
Lok Sabha Election: JDS once again dependent on family, dynastic politics becomes the biggest weakness of the party
The issue of dynasty politics is talked about a lot in the country's politics. Janata Dal (Secular) Party of Karnataka is also an example of this, where the entire party now seems to be dependent on a
US Federal Reserve: Fed chief expressed concern, despite all recent efforts, inflation is very high
US Federal Reserve Governor Lisa D Cook has expressed concern over inflation. He has said that despite some encouraging signs recently, inflation in the US remains very high. This is a matter of great
America became India's largest trading partner in 2022-23, with China at number two; These countries are included in the top 5
America has emerged as India's largest trading partner in the financial year 2022-23. The increase in trade between the two countries comes at a time when ties between the US and India have grown
Weather Update: Delhi-NCR lost in dense fog, visibility very low in many areas; Orange alert issued
North India including Delhi NCR is also wrapped in a blanket of fog. A dense fog was seen on Wednesday morning. Because of this, even nearby things are not visible clearly. Due to this vehicles were
KKR vs SRH Highlights: Hyderabad won due to Harry Brook's century, Nitish Rana-Rinku Singh could not show miracles
The team of Sunrisers Hyderabad has won its second consecutive win after a bad start in the 16th season of IPL. He defeated Kolkata Knight Riders after Punjab Kings. Hyderabad and Kolkata teams faced
Virender Sehwag suggested how Team India's batting and bowling combination should be in T20 World Cup 2022
The ICC T20 World Cup is to be played in October-November this year and all the teams have started preparations for it. The T20 World Cup is to be played in Australia this year and during this time
Former US President Bill Clinton infected with Corona, tweeted information
Former US President Bill Clinton made a tweet on Wednesday. He said that his corona infection report has come positive and he has mild symptoms of corona infection. He said that I have quarantined
Bharat Jodo Yatra: Rahul's Bharat Jodo Yatra enters Maharashtra today, Pawar will be involved, doubts about Thackeray
Congress's Bharat Jodi Yatra proceeded from Telangana's Kamareddy district on Monday morning. The Yatra will enter Maharashtra from the Nanded district tonight. It will travel for about 14 days in
Pollution: Cigarette smoke pollution can cause skin diseases, and a smoker's car is also dangerous!
Till now it has been said that tobacco smoke also affects the health of other people living with smokers. Especially the risk of heart disease increases. Now a new study suggests that exposure to
