The Nation Is Watching
It is common knowledge that the factor having the highest impact on cost of living is the prices of petrol and diesel. These commodities with prices consistently on swift increase have a tax component of about 50% and 34% respectively and have been kept outside the purview of GST, which itself was introduced for rationalisation of prices. Even the highest tax rate under GST is only 28%.
Treating petrol and fuel as two major sources of revenue for developmental projects as was being done by most of the governments at the centre so far has a highly adverse impact on the economy and the life of the common man. Alternate sources of revenue should be explored like more steps for unearthing black money, taxing the agriculturists, curtailling public expenditure, increasing industrial production and the like. Too much of dependence on petrol and diesel for earning revenue for any developmental activity needs to be brought down. The government at the centre and also of the States should intervene expeditiously instead of waiting to see the price crossing century. Petrol and diesel should at least be brought within GST framework to give some relief to the common man.
It is common knowledge that the factor having the highest impact on cost of living is the prices of petrol and diesel. These commodities with prices consistently on swift increase have a tax component of about 50% and 34% respectively and have been kept outside the purview of GST, which itself was introduced for rationalisation of prices. Even the highest tax rate under GST is only 28%.
Treating petrol and fuel as two major sources of revenue for developmental projects as was being done by most of the governments at the centre so far has a highly adverse impact on the economy and the life of the common man. Alternate sources of revenue should be explored like more steps for unearthing black money, taxing the agriculturists, curtailling public expenditure, increasing industrial production and the like. Too much of dependence on petrol and diesel for earning revenue for any developmental activity needs to be brought down. The government at the centre and also of the States should intervene expeditiously instead of waiting to see the price crossing century. Petrol and diesel should at least be brought within GST framework to give some relief to the common man.
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