Govt collected nearly Rs 5 lakh crore from petrol and diesel taxes in last 10 months.

We know the Central and State governments have been looting the money of people hiking petrol and diesel prices. As per reports, the Central government’s tax collections on petrol and diesel have jumped over 300 per cent in the last six years.

Besides income tax and GST, the Centre collected nearly Rs 3 lakh Crore tax from two fuel hikes. VAT levied by state governments on a large scale is also a burden to the people. Combining both Centre and state tax collections, we can understand that Rs. 5 lakh Crore have been collected from the people in the last ten months.

According to the official information provided by the Center, the central government got Rs 29,279 crore from excise duty on petrol and Rs 42,881 crore on diesel in 2014-15. But now, the collections on petrol and diesel increased to Rs 2.94 lakh crore in the first 10 months of the current fiscal (2020-21).

During the Congress regime, the excise duty on petrol was Rs 9.48 per litre, but now it is Rs 32.90 a litre, while diesel has gone up from Rs 3.56 a litre to Rs 31.80. Taxes account for 60 percent of the price of petrol and 53 percent of the price of diesel.