'Anti-people' 'Petroleum tax' Rs 1.35 lakh crore, claims CPI-M
New Delhi: Describing tax regime on petroleum products as 'anti-people', the CPI-M today said the government will rake in a huge revenue of Rs 1,35,000 crore from these levies in the fiscal beginning April.
Participating in the debate on the budget in the Rajya Sabha, party member Brinda Karat said the government was giving statistics 'selectively', creating an impression as if it was suffering a big loss.
She said out of the basic price of petrol in the capital city, 48 per cent comprised various taxes. On diesel basic sale price, it was 32 per cent.
Karat said the rise in petroleum prices was resulting in a big jump in tax revenue. "It is giving huge revenues to the Government because there is also an element of ad valorem tax on this, particularly, on customs duties."
In a single year (2010-11), the Centre has benefited in revenue mobilisation to the extent of Rs 1,11,000 crore.
"This year, according to the latest figures of the Petroleum Ministry, the revenue is going to go up by another Rs 25,000 crore, that is, to approximately Rs 1,35,000 crore," she said.
She said a full picture is not given regarding taxes on petroleum. "The government is misleading (people)," she said.
The Central Budget for 2011-12 has provided for lower petroleum subsidy of Rs 23,600 crore against the revised estimates of Rs 38,400 crore in the current fiscal.
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