Home » Money

Bring petrol, diesel under GST immediately: Former FM Chidambaram

04 September, 2018, 17:28 | Author: Shawna Walton
  • Fuel prices hit all-time high, petrol Rs 86.56 per litre in Mumbai

External factors: The exchange rate - that is the price of the dollar vs the rand.

The fall in rupee could be attributed to the surge in global oil prices, with crude oil gaining United States dollars 7 a barrel in a fortnight driven by fears over US-China trade war and the US sanctions on Iran contracting supplies. Since August 16, petrol prices have risen by over Rs 2 per litre and diesel by Rs 2.42 a litre.

On Monday, the petrol and diesel prices touched Rs 79.15/litre and Rs 71.15/litre respectively.

The fuel prices are likely to go up further as the rupee hit yet another all-time low of ₹71.18 against the USA dollar on Monday, compared to the previous close of ₹70. Diesel price has also gone up by Rs 0.39 per litre and touching Rs 71.15 per litre. If taxes are cut, prices will decline significantly, the senior Congress leader added.

Petrol prices have hit an all-time high in Mumbai.

Moreover, the price of crude oil has risen by $7 a barrel in the past two weeks due to the growing fears that the U.S. sanctions on Iran might reduce the supplies. The Centre now levies a total of Rs 19.48 per litre of excise duty on petrol and Rs 15.33 per litre on diesel.

Earlier, taking cognizance of the meteoric rise in the fuel prices, Petroleum and Natural Gas Minister Dharmendra Pradhan had said that it is time that petroleum products fall under GST. "I would like to mention two points, and both these subjects are external". "Apart from that, crises in countries like Venezuela and Iran are increasing. Knowing that we can't disturb the fiscal deficit, we should rather be fiscally prudent", the official in the finance ministry said. He blamed the Narendra Modi-government for the rise.

Chidambaram said the central government blaming the states is a "spurious argument". They are going to hit a century.

"Dear Modiji, please show some kindness on a festival day.Your jumlas are not taxed, but when will you reduce the tax on petrol-diesel?"


  • Did Mexico throw Canada under the NAFTA bus?

    Did Mexico throw Canada under the NAFTA bus?

    Late Friday night, President Donald Trump called for Bloomberg to apologize for violating "a firm off the record statement". Despite some contentious issues still on the table, the increasingly positive tone contrasted with U.S.
    Why Mkhitaryan Looks Set To Miss The Europa League Final

    Why Mkhitaryan Looks Set To Miss The Europa League Final

    According to Vivaro News , Armenian players are now banned from entering Azerbaijan due to tensions between the bordering rivals.
    Detroit hosts star-studded funeral for Aretha Franklin

    Detroit hosts star-studded funeral for Aretha Franklin

    The funeral comes after several days of public viewings for the singer, which began with two days at Detroit's Charles H. Wright Museum of African American History that attracted thousands of fans and mourners from around the country.
  • Next Gen fall flat at U.S. Open

    For all its bright spots, the first week of this year's US Open has been a weird one, with pot-stirring events happening daily. Next for the 36-year-old American comes a quarterfinal against 2016 runner-up Karolina Pliskova, who beat Williams in the U.S.
    IPhone XS leaked image shows off larger display and gold finish

    IPhone XS leaked image shows off larger display and gold finish

    The 2018 lineup of Apple iPhones will be unveiled on September 12 , exactly a year after Apple revealed there 2017 iPhone lineup. All the upcoming iPhones are expected to feature notch design that was first introduced in the iPhone X previous year .
    Survivor describes horror in deadly semi-truck and Greyhound bus collision

    Survivor describes horror in deadly semi-truck and Greyhound bus collision

    University of New Mexico Hospital in Albuquerque said it was expecting six patients, three of whom were in critical condition. A spokeswoman for Greyhound said the company is cooperating with local authorities and will do its own investigation.
  • Chinese billionaire back at work amid US  sexual conduct probe

    Chinese billionaire back at work amid US sexual conduct probe

    Investors flinched slightly at the news Friday of Liu's arrest , but JD.com stock value had rebounded by the end of the day. Liu started his business by opening a counter store in Beijing selling computer parts.
    Hamilton surprised Vettel gave him opportunity to overtake

    Hamilton surprised Vettel gave him opportunity to overtake

    Hamilton's overtaking move on Vettel was investigated by the stewards but they took no action, deeming it a racing incident. Hamilton's sixth win of the season lifted him to 256 points, to his German rival's 226, with seven races still ahead.
    Venus eyes potential clash with Serena

    Venus eyes potential clash with Serena

    Venus, the 2000 and 2001 champion, made the third round for the 17th time with a 6-4, 7-5 victory over Camila Giorgi of Italy. I know the same thing is for her. "Unsportsmanlike conduct.???? But the men can change shirts on court", she tweeted.
  • Serena Williams moves past Kaia Kanepi at U.S. Open

    Serena Williams moves past Kaia Kanepi at U.S. Open

    The 36-year-old dropped her first set at the tournament in NY but came through to beat Estonia's Kanepi 6-0 4-6 6-3 in 86 minutes. Kanepi took a 5-2 lead before Serena won the next two games, but Kanepi was able to even it up by winning the second set 6-4.
    Coca Cola buys Costa Coffee for £3.9 billion

    Coca Cola buys Costa Coffee for £3.9 billion

    The move is Coca-Cola's latest diversification as health-conscious consumers, at least in America, move away from traditional soda.
    What to Do If Someone Rings Your Doorbell Overnight

    What to Do If Someone Rings Your Doorbell Overnight

    The man's 32-year-old girlfriend has been confirmed by deputies to be the woman captured on the doorbell camera last Friday. At about 3:30AM, someone rang the doorbell at a number of homes, but disappeared by the time they answered the door.


Samsung Or Huawei? Who Will Win The World’s First Foldable Smartphone Title?
But people are paying that much for one, considering the Galaxy Note 8 was that price previous year , and so was the iPhone X. It comes with advanced noise reduction technology, and a Dual Aperture lens, which adjusts to light just like the human eye.

Officer-involved shooting at California Racetrack
Del Mar Racetrack, where the Ice Cube concert is being held tweeted: "The situation has been contained". Commentators could be heard screaming " there's gunfire at the track " as the race took the place.

Ohr Kept Mueller's 'Pit Bull' Weissmann 'in the Loop' on Dirty-Dossier
In one instance, members read from an email in which Steele wrote to Ohr that he wanted to discuss something with him informally. Goodlatte was not present for the interview with Ohr, which was held Aug. 28 during the House's August recess.

Sony Xperia XZ3 press renders leaked ahead of official launch
The Xperia XZ3 comes with 4GB of RAM and 64GB of internal storage , which you can expand using a microSD card (up to 512GB ). Some of you were probably expecting Android Oreo to come pre-installed on the device, but that will not be the case.

Trump advisers press for dairy concessions ahead of Freeland's arrival
Canada wants to keep the chapter strong, while Americans insist that it undermines USA sovereignty and negotiating capabilities. Herman questioned how that approach could possibly be seen as falling within Trump's authority to modernize NAFTA .

Bears trading at least 2 1st-round picks for Khalil Mack
With Gruden open to dealing Mack, there was no way Davis was going to veto him after giving him $100 million to coach the team. While he's considered one of the most dominant at his position, he isn't being paid like it.

Museum a fitting host for Aretha Franklin's public viewings
Six television trucks were parked nearby, including two satellite trucks parked in the median of East Warren Avenue. Franklin; sisters Carolyn Franklin and Erma Franklin; brother Cecil Franklin; and nephew Thomas Garrett.

Aretha's Farewell: fans pay homage to star in gold coffin
At least 20 performers are scheduled to participate, including Stevie Wonder , Shirley Caesar, Faith Hill and Ariana Grande . The pop star asked for a moment of silence so "every single one of us could reflect on our love and respect for her".

Joe Biden: 'I'm a Democrat and I love John McCain'
Later in the day, a military aircraft was scheduled to take McCain's body back east for a lying-in-state at the U.S. It was only until Monday that the president issued a longer statement about his respect for McCain's service.

French, British Boats Clash In English Channel Over Scallop Catches
It comes amid a row that scallop stocks have been stripped by British firms, without giving the population a chance to recover. He said he had been contacted by his French counterpart agreeing to a meeting in France.