<p>Order of the National Green Tribunal in the matter of Vardhaman Kaushik Vs Union of India & Others dated 22/03/2024.</p> <p>The Special Protection Group (SPG) filed the application to direct the
A cess or surcharge on income tax and corporate tax may be levied to bail out oil firms reeling under high global prices as the Petroleum Ministry's proposal to raise petrol price by Rs. 10 a litre, diesel by Rs. 5 a litre and that of LPG by Rs. 50 a cylinder finds few takers. The new proposal follows Finance Minister P. Chidambaram's reluctance to cut duties on crude oil and petroleum products unless alternative source of revenues are identified.
Deora meets Dr. Singh, seeks sharp hike to bail out OMCs Under-recoveries of OMCs could touch Rs. 200,000 crore this fiscal, Prime Minister told Stand-off between Petroleum, Finance Ministries figure in Manmohan-Deora meeting NEW DELHI: A crucial meeting of the Empowered Group of Ministers (EGoM) on petroleum has been convened for Wednesday to discuss proposals to hike the price of petrol and diesel, cut import duties on crude oil and lower excise on the two fuels.
Despite political setbacks for the Congress leaving little room for a hike in motor fuel prices, the Petroleum Ministry is toying with the proposal for a "massive hike in petrol' prices to bring them on a par with the market rates. Diesel, LPG and kerosene, however, will be left untouched. The deregulation of petrol could see its price jumping by Rs.15 to Rs.16 a litre.
As the country battles with the fallout of rising crude, it is time for the policy makers to relook at the faulty pricing policy of petroleum products. More often than not, the blame of high crude prices is laid on the taxes - customs duty, sales tax and excise duties etc. The rationale for cutting taxes is definitely there, but when we talk about crude rising by nearly 50 to 60 per cent from the present levels, a harder look has to be given to the way the oil companies are paid for the production of petrol, diesel, LPG and kerosene.
Petrol and diesel prices have marginally increased from Friday midnight consequent to a corresponding hike in the commission for petroleum dealers by the Union Ministry of Petroleum and Natural Gas. Revision In the city, the increase of three paise on petrol, taking the retail price of a litre of the fuel to Rs.49.64 and four paise on diesel, resulting in the price going up to Rs.34.44, however, has not cheered the dealers. They complained that the quantum of the upward revision of commission fell short of their expectations. Protest
The prices of diesel and kerosene have registered a sudden increase in Barisal over the couple of days reportedly due to artificial supply shortage created by a section of traders. Local said diesel and kerosene prices had increased in the city by Tk 7.00 to 10.00 per litre. Oil depot sources said they had supplied kerosene at Tk 7, 842 per barrel and diesel at Tk 7, 762 per barrel to the dealers. The dealers have been directed to sell those at Tk 8,000 per barrel in the wholesale markets.
Lakhs of vehicle owners in metropolitan cities and major towns will now have to shell out Rs.3 to Rs.4 a litre more for "buying petrol and diesel' as State-run Oil Marketing Companies (OMCs) have "decided' to sell only expensive "branded premium fuel' at these places.
The Federation of All India Petroleum Dealers has strongly condemned the move by the Indian Oil Corporation to stop supply of normal petrol and diesel products and instead "force' the dealers to only sell premium branded fuels from their retail outlets.
The Indian Foundation of Transport Research and Training (IFTRT) has said that the Delhi Government's policy to give tax incentive to owners of diesel-run light goods vehicles (LGVs) if they bought CNG-run LGVs in order to make the Capital's air cleaner has failed to evoke any response from the truck operators concerned.
There was not even a single voluntary response to the Delhi government's ambitious scheme of persuading operators of old diesel-run light goods vehicles (LGVs) to switch over to new CNG-run vehicles by offering them a whopping Rs 80,000 (12.5 per cent) tax incentive per vehicle. Out of a total of 38,500 diesel-run LGVs registered, over 5,000 are between 14 and 15 years old The scheme which was announced in February this year to persuade owners of 14 to 15 year old diesel-run light goods vehicles to switch over to more eco-friendly CNG-run ones, closed on April 30.
