{"id":350214,"date":"2020-05-07T12:24:28","date_gmt":"2020-05-07T06:54:28","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=350214"},"modified":"2020-05-07T12:25:42","modified_gmt":"2020-05-07T06:55:42","slug":"the-great-indian-fuel-tax-trick-how-government-is-now-eyeing-a-21-billion-windfall","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/the-great-indian-fuel-tax-trick-how-government-is-now-eyeing-a-21-billion-windfall\/","title":{"rendered":"The Great Indian Fuel Tax Trick: How government is now eyeing a $21-billion windfall"},"content":{"rendered":"<p>NEW DELHI: The Centre&#8217;s steep tax hike on petrol and diesel may net it a cool Rs 1.7 lakh crore in additional tax revenue this fiscal, if the increase is maintained for the full year (FY2020-22). On the flipside, Indians now rank among the world&#8217;s most taxed consumers of transport fuel &#8212; Central and state taxes accounted for over 69% of retail fuel prices in the national capital on May 6, handily beating even highly-taxed European economies. <\/p>\n<p>Tuesday&#8217;s tax hike absorbs most of the gain from all-time low crude oil prices instead of passing on the benefit to the consumer. It will also almost double Central fuel tax collections from the Rs 2-odd lakh crore expected in 2019-20. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>NEW DELHI: The Centre&#8217;s steep tax hike on petrol and diesel may net it a cool Rs 1.7 lakh crore in additional tax revenue this fiscal, if the increase is maintained for the full year (FY2020-22). On the flipside, Indians now rank among the world&#8217;s most taxed consumers of transport fuel &#8212; Central and state taxes accounted for over 69% of retail fuel prices in the national capital on May 6, handily beating even highly-taxed European economies. Tuesday&#8217;s tax hike absorbs most of the gain from all-time low crude oil prices instead of passing on the benefit to the consumer. [&hellip;]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,207,143],"tags":[],"class_list":["post-350214","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-new-indian-express","category-the-new-indian-express"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/350214","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=350214"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/350214\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=350214"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=350214"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=350214"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}