U.P.A 'S SECOND ANNIVERSARY GIFT TO COMMON MAN
PETROL PRICES WENT UP BY RS.7 (23/5/2012)
DIESEL PRICES TO GO UP BY RS 5 ON MONDAY (28/5/2012)
L.P.G PRICE TO GO UP BY RS 50 BY MONDAY (28/5/2012)
GOVERNMENT SAYS
Global crude oil prices have surged since the beginning of 2012 on account of geo-political concerns in the Middle East and abundant global liquidity. The price of Brent crude rose to USD 120 a barrel in mid-April from USD 111 in January.
For the current fiscal, the government has made a provision of Rs 43,580 crore for oil subsidies, of which Rs 40,000 crore has been earmarked as compensation to oil marketing companies (OMCs) for selling petroleum products at lower than market rates.
REAL FACTS BEHIND PRICE RISE
During the 2011-The government targets to bring down the subsidy bill to below 2 percent of GDP this fiscal and 1.75 percent in the subsequent years. 12 fiscal, the government has paid Rs 65,000 crore to OMCs on account of under-recoveries, of which Rs 20,000 crore alone was for the January-March quarter.
High subsidies are putting pressure on the country's fiscal deficit, which touched 5.9 percent of GDP last fiscal and is pegged at 5.1 per cent in 2012-13. India imports about 80 per cent of its crude oil requirement.
COMMON MAN PLEA
Subsidy cut off for common man & Tax waving for corporates . Manmohan this india common man's india
"Beware don't ignite second war of Indian Independence with Petrol "
DURING RECESSION (2007) PETROL BARREL PRICE WAS 140 USD
PRICE PER LITER INDIA 45 RS
PRESENT PRICE 120 USD / BARREL
PRICE PER LITER INDIA 81 RS
PETROL PRICES WENT UP BY RS.7 (23/5/2012)
DIESEL PRICES TO GO UP BY RS 5 ON MONDAY (28/5/2012)
L.P.G PRICE TO GO UP BY RS 50 BY MONDAY (28/5/2012)
GOVERNMENT SAYS
Global crude oil prices have surged since the beginning of 2012 on account of geo-political concerns in the Middle East and abundant global liquidity. The price of Brent crude rose to USD 120 a barrel in mid-April from USD 111 in January.
For the current fiscal, the government has made a provision of Rs 43,580 crore for oil subsidies, of which Rs 40,000 crore has been earmarked as compensation to oil marketing companies (OMCs) for selling petroleum products at lower than market rates.
REAL FACTS BEHIND PRICE RISE
During the 2011-The government targets to bring down the subsidy bill to below 2 percent of GDP this fiscal and 1.75 percent in the subsequent years. 12 fiscal, the government has paid Rs 65,000 crore to OMCs on account of under-recoveries, of which Rs 20,000 crore alone was for the January-March quarter.
High subsidies are putting pressure on the country's fiscal deficit, which touched 5.9 percent of GDP last fiscal and is pegged at 5.1 per cent in 2012-13. India imports about 80 per cent of its crude oil requirement.
COMMON MAN PLEA
Subsidy cut off for common man & Tax waving for corporates . Manmohan this india common man's india
"Beware don't ignite second war of Indian Independence with Petrol "
DURING RECESSION (2007) PETROL BARREL PRICE WAS 140 USD
PRICE PER LITER INDIA 45 RS
PRESENT PRICE 120 USD / BARREL
PRICE PER LITER INDIA 81 RS
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