In 2011-12, the cumulative income from VAT on petrol, diesel and CNG was Rs 5,561 crore.
‘Total expenditure proposed in budget estimates for 2014-15 including debt…’
Diesel price hikes may be dumped as Congress party looks to burnish its pro-people image.
The changes in fuel prices will be applicable with effect from Thursday midnight.
Diesel is currently being sold at a loss of Rs 14.50 per litre.
Diesel losses had last touched about Rs 14 per litre in January,2012.
The Bharatiya Janata Party on Saturday dubbed the hike in diesel and petrol prices as a Jaziya tax against the common public.
Earlier on July 10,Veerappa Moily has asked P Chidambaram to provide an additional Rs 63,000 crore
The finance ministry has agreed to disburse Rs 8,000 crore as cash subsidy to Indial Oil Corp (IOC),BPCL and HPCL.
DM Arvind Kumar Singh issued an instruction asking all employees to save diesel and petrol.
The increase in the fuel prices will be implemented with effect from Wednesday midnight.
After the current fall in rupee,fuel pricing has gone out of control for govt.
Regular hikes in fact brought down the losses on diesel to just Rs 2.62 from Rs 8.64 per litre.
All India Motor Transport Congress (AIMTC) has announced a 24-hour token strike from Wednesday midnight against the recent massive hike in diesel prices.
The company previously posted a loss Rs 7,485 crore during the second quarter of 2011. Its gross refining margin has turned negative at $4.81 a barrel due to an inventory valuation loss of Rs 4,062 crore.