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Centre buckles under criticism of rising fuel prices, cuts excise duty on petrol, diesel by Rs 2

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Excise cut on fuel

[vc_row][vc_column][vc_column_text]Excise reduced from Rs 21.48 per litre to Rs 19.48 on petrol, while excise duty on diesel down to Rs 15.33 from Rs 17.33 per litre

Amid rising criticism for its failure to pass on benefits of declining global crude oil prices to Indian buyers of petrol and diesel, the Centre has cut the excise duty on petrol and diesel by about Rs 2 a litre each to moderate the relentless rise in fuel prices over the past three months.

As a result of the Centre’s decision, petrol price was, on Wednesday, cut by Rs 2.5 a litre and diesel by Rs 2.25 following a reduction in the excise duty on auto fuels. On petrol, the excise has been cut to ₹ 19.48 from ₹ 21.48 and on diesel to ₹ 15.33 from ₹ 17.33 previously.

Petrol in Delhi now costs Rs 68.38 a litre, down from Rs 70.88. A litre of diesel will now cost Rs. 56.89, against Rs 59.14 previously, according to Indian Oil Corporation (IOC).

IOC Director (Finance) A K Sharma told news agency PTI that the cut in retail selling price was higher after factoring in its impact on the value added tax (VAT).

Excise duty is levied on fuel produced ex-refinery. Local sales tax or VAT is then levied on the total of ex-refinery cost plus excise duty and commission paid to the fuel dealers.

Until Tuesday, VAT on petrol in Delhi was Rs 15.07, while it now stands at Rs 14.54. Similarly, VAT on diesel came down to Rs 8.41 on Wednesday as opposed to the earlier rate of Rs 8.73.

The excise duty cut grants some relief to consumers who had been burdened by the relentless rise in petrol and diesel rates since July 4. While the petrol prices increased by Rs 7.8 to reach Rs 70.88 a litre in Delhi on Tuesday, the highest since August 2014, the diesel rates rose by Rs 5.7 to touch an all-time high of Rs 59.14.

The excise duty cut would cost the government Rs 26,000 crore in annual revenue and about Rs 13,000 crore in the remaining part of the current fiscal year that ends on March 31, 2018.

The BJP government, which had, between November 2014 and January 2016, raised excise duty on petrol and diesel on nine occasions to take away the gains arising from plummeting global oil prices, has been criticised for not cutting excise duty despite a sustained rise in fuel prices.

In all, the duty on petrol was hiked by Rs 11.77 a litre and that on diesel by Rs 13.47 in the past 15 months that helped government’s excise mop up more than double to Rs 2,42,000 crore in 2016-17 from Rs 99,000 crore in 2014-15.

While the costliest petrol was sold in September 2013 when it was priced at Rs 76.06 a litre in Delhi, the previous highest rate of diesel was also during the BJP rule in September 2014 when it was priced at Rs 58.97 a litre.[/vc_column_text][/vc_column][/vc_row]

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Tihar jail extortion case: MHA sanctions CBI inquiry against AAP leader Satyendar Jain

Satyendar Jain and former Tihar Jail DG Sandeep Goel were accused of running an extortion racket from Tihar and demanding protection money from high profile inmates

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In another setback for the Aam Aadmi Party (AAP), the Ministry of Home Affairs accorded sanction for a Central Bureau of Investigation (CBI) inquiry against Satyendar Jain, jailed AAP leader, for allegedly extorting Rs 10 crore from conman Sukesh Chandrashekhar as protection money. 

Satyendar Jain and former Tihar Jail DG Sandeep Goel were accused of running an extortion racket from Tihar and demanding protection money from high profile inmates allegedly. The development follows as Delhi chief minister and AAP convener Arvind Kejriwal is in Enforcement Directorate (ED) custody in connection with the alleged liquor policy scam.

Earlier, Delhi Lieutenant Governor Vinai Kumar Saxena sanctioned the CBI inquiry into extortion charges against Satyendar Jain. In a letter seeking the LG’s nod to probe the extortion charges, the CBI in November last year wrote that Satyendar Jain was accused of running a high-profile extortion racket from Tihar Jail and demanding Rs 10 crore as protection money from Sukesh Chandrashekhar to enable him to live peacefully and comfortably in jail.

The aforesaid allegations were made by the conman who said Satyendar Jain extorted money in various tranches during 2018-21, either personally or through his accomplices to enable Chandrashekar to live comfortably in different jails of Delhi namely Tihar, Rohini and Mandoli.

AAP leader Satyendar Jain was arrested in May 2022 under the Prevention of Money Laundering Act. Jain’s last bail plea was dismissed by the Supreme Court on March 18 this year and the top court asked him to surrender in connection with the money laundering case. The AAP leader was given an interim medical bail on May 26, 2023 after he fell in the jail bathroom. Jain underwent a spinal operation during his bail period.

Beside Satyendar Jain, AAP leaders Manish Sisodia, Sanjay Singh, and Vijay Nair are also in Tihar Jail.

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Rahul Gandhi warns ED, CBI of strong action whenever government changes

The Congress leader’s statement follows after the Income Tax department’s fresh notices asking the party to pay Rs 1,823.08 crore.

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Rahul Gandhi on Friday accused central agencies of working at the behest of the BJP-led government at the Centre and warned them that strict action will be taken against these institutions when the government changes.

The senior Congress leader asserted that if the institutions had done their jobs properly there would have been no problem. He added that these agencies should think that some day the BJP government will change and after that there will be action. He further said that it is his guarantee that the action will be so strong that no institution will dare to do such things again.

Taking to social media platform X, Rahul Gandhi wrote that when the government changes, action will definitely be taken against those who destroyed the democracy. Mentioning that it is his guarantee, Rahul Gandhi said that such actions will be taken that no one will dare to do all this again.

Congress leader Rahul Gandhi’s statement follows after the income tax department’s fresh notices asking the party to pay Rs 1,823.08 crore. The party has accused the ruling BJP of indulging in tax terrorism to financially cripple the opposition party ahead of Lok Sabha polls.

While addressing a press conference at the AICC headquarters along with Congress general secretary Jairam Ramesh, party treasurer Ajay Maken alleged that the BJP is in serious violation of income-tax laws. He said the I-T department should raise a demand of Rs 4,617.58 crore from the saffron party for such violations.

Ajay Maken said that the income-tax returns filed by Congress for eight years have been reopened on baseless and manufactured grounds to levy illegal I-T demand orders totalling thousands of crores of rupees. He stated that the timing of the I-T department’s action in February and March, days before and even days after the Lok Sabha election were announced on March 16, speaks for itself about the mala-fide nature of these actions.

Furthermore, the opposition party will hold nationwide protests over the weekend against fresh income tax demand of over Rs 1,800 crore, which it has described as an egregious attack on democracy and imposition of tax terrorism amid the upcoming Lok Sabha elections.

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Jammu and Kashmir: 10 killed as taxi rolls into gorge at Ramban, PM Modi announces ex-gratia of Rs 2 lakh

Ramban deputy magistrate said that it was pitch dark and raining heavily when the accident occurred near Battery Chashma around 1.15am.

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In an unfortunate incident, ten passengers were killed when a taxi veered off the road amid heavy rain and fell into a gorge in Ramban district on the Jammu-Srinagar national highway early on Friday.

Baseer-ul-haq, Ramban deputy magistrate said that it was pitch dark and raining heavily when the accident occurred near Battery Chashma around 1.15am. He added that while the vehicle, believed to be a Chevrolet Tavera, has not been traced yet, 10 bodies have been recovered from the steep slope from where it went down 500 metres.

Police along with quick reaction teams, the local tehsildar, assistant commissioner, revenue, and other officials were at the spot supervising rescue work. Reports said that two identity cards were recovered from two bodies. 

The bodies were identified as taxi driver Balwan Singh, 47, of Amb Gharota in Jammu district, and Vipin Mukhiya, of Bhairagang in West Champaran district of Bihar. The identified bodies were taken to Ramban district hospital. Police asserted the taxi was on its way to Kashmir from Jammu.

Expressing grief over the accident in Ramban, Prime Minister Narendra Modi announced an ex-gratia of Rs 2 lakh from PMNRF, which would be given to the next of kin of each deceased. Furthermore, the injured would be given Rs 50,000.  PM Narendra Modi also extended condolences to the bereaved families and prayed for a quick recovery of the injured. 

Taking to social media platform X, President Droupadi Murmu said that the news of many people getting killed after a vehicle fell into a ditch in Ramban area on Jammu-Srinagar National Highway is very sad. She also offered condolences to the bereaved families.

Earlier, Jammu and Kashmir police shared on social media platform that a passenger taxi rolled down a deep gorge on the Jammu-Srinagar national highway near Battery Chashma in Ramban area. It added that Police, SDRF and civil QRT Ramban reached on spot, rescue operation is going on.

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