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Real Reason Behind Increasing Petrol Prices by Government | Oil Bond | Nitish Rajput | [HINDI] - YouTube
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India gives oil to Nepal, but even after that, the price of petrol in India is high.
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And the price of petrol in Nepal is low
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What are an oil bond and they are right or not
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Petrol is seen as if it is the stuff of the rich,
Only for those who have cars.
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They give in those sectors which have the maximum number of voters, agricultural
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And why is petrol not included in GST?
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Like when relatives come home, money is given to the children.
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And parents take money, the same thing the government is doing with you.
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When petrol prices rise, whether it is food, travel, transportation,
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the price of everything increases and overall Inflation rises.
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And when questions are asked to the government so they blame each other
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So the first thing is whether it is in the hands of the government
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to increase or decrease the price of petrol.
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Secondly,
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crude oil is available in the international market at the same price.
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Even then, why do petrol prices differ from country to country?
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Intact India gives petrol to Nepal, even then the price of petrol in India is high
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And the price of petrol in Nepal is low and why is petrol not included in GST?
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This is the whole thing, let's discuss in detail, see, Petrol at petrol pumps
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It is not given to you directly from the ground.
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First, the crude oil is searched and carried from the sub-surface to the surface.
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Crude oil comes out in the raw form
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Then this crude oil is transported to the refinery.
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After processing the raw oil in the refinery, petrol, diesel, and jet oil is transformed from it
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If I talk about India then Bharat Petroleum, Hindustan Petroleum
and all this is sent to the petrol pump.
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Indian corporations, Reliance, and all these companies are involved in this process.
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The process is very simple but there is a problem with this whole process.
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Crude oil is not available everywhere, in countries in which it was discovered on a large scale.
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They are happy and don't need more.
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But countries where there is less or it has not been discovered.
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They have to buy crude oil to run their country.
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Every country has its refineries like
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Like India has 23 refineries
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Crude oil is bought from the international market and brought to the refinery
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And here petrol is made.
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See, not only do cars run on petrol, but
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Everything is directly and indirectly related to petrol
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Today you can eat Kashmir apples sitting in Delhi and Mumbai.
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It's also because of petrol
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Because petrol is the base of the entire transportation and production.
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Everything from inflation to GDP affects the country
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when there is a shortage of petrol that's why it is considered to be the most important
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commodity in the world, Crude oil is also available in India but that is not enough
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That's why India imports crude oil on a large scale and when crude oil comes to India
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After that from the refineries of Bharat Petroleum, Hindustan Petroleum,
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Indian Corporation and Reliance all of them deliver petrol to you.
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Crude oil is not a limited thing, that's all that is left then it will end
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Crude oil is a natural commodity and it is found both on land and in the sea
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The research team of every country keeps on searching for crude oil continuously.
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In between, you will also get to hear the news when any new fields are discovered.
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3 players in the world sell crude oil, one USA second Russia and third OPEC
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What is OPEC? in the Middle East
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All oil-producing countries have formed their association which is named OPEC
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OPEC is a very important player all over the world.
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What will be the price of crude oil in the world, it is in their hands.
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Now you will say, how are the prices in their hands?
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See the way holding or artificial shortage is done in India of onions and other things and
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And the prices are increased, in the same way, OPEC does the same in the international market.
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They hold meetings and after seeing the demand,
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they increase or decrease the price of petrol
If demand is high and supply is low
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so the price goes up you must have seen countries where there is a shortage of crude oil.
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They promote more electrical vehicles.
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If you ever want to track oil, then the most important thing is to
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Track OPEC, suppose you want to buy a mobile, from few selected companies
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you buy a mobile but
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Your phone's operating system will be either iOS or Android,
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there are other operating systems such as
Ubuntu Touch and Tizen
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But you will see that our mobiles usually have these two operating systems.
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Similarly when you have to buy oil in the international market
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So there are 2 main benchmarks one is WTI, West Texas intermediate
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And second is Brent, there are more benchmarks but both of these are main.
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Like iOS and Android do the same thing but are different
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In the same way, there is also a difference between a Brent and a double WTI.
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but both work the same, WTI crude oil has more API gravity
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Means how light oil is.
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If you put it in water, how much will it float?
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Sulfur is also low in WTI compared to brent.
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Due to high Sulfur, it takes more time and more money to make refinery-grade petrol.
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So if you compare, the WTI is better compared to brent.
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But brent runs all over the world because it's a bit cheap
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India also uses Brent.
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When you go to fill petrol, you must have seen
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API gravity and sulfur contain all these things that are written there.
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Crude oil is available by the barrel in the international market
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1 barrel contains about 159 liters of oil
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And currently
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Per barrel, the rate is running at $104.
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why am I telling you all these things, because next time when the price of petrol increases
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so you could get to know that
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Petrol prices are high because of the international market
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Or because of internal politics, let me show you Delhi's petrol price breakup
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It has a base price of 29.34 rupees, this is the base price that companies in India
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set the price of petrol after processing it in a refinery to make the final product after this
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0.37 freight price is written on it.
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Means transportation cost, which is used to distribute petrol to the petrol pump.
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After this, the most interesting thing is excise duty
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32.98 Rs
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the highest, this tax has been imposed by the Central Government.
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After this 3.69 Rs is mentioned as dealers commission after the complete process
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he earns 3.69 per liter
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And VAT 19.92 is a text imposed by State Government
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After applying all this, the petrol which was Rs 29.34 Rs
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becomes Rs.86.3
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India imposes the highest tax on petrol in the whole world
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This is the reason why the countries to which we give petrol
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Petrol is cheaper in those countries than in India
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Now it must be coming to your mind that the calculation of every country is different.
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India's needs are different
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The financial experts here must have imposed taxes thoughtfully
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But it is not so.
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There are a lot of issues in India regarding excise duty and VAT tax.
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One thing is certain the increase in the price of petrol will affect
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the pockets of the general public, from bus fare to office to food
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Financial difficulties have to be suffered in everything and at such times at least
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Let's come back to the topic
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Now you will say that they are abusing so much every day about the price of petrol.
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Why are they not reducing the price of petrol by reducing this tax ultimately they want votes
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They have been running the country for so long, that they know better than us that in India
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how votes drive, the whole fault behind not reducing the tax is ours.
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The craze of getting things for free in India is very high.
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you may remember very well
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If I ask you
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Which government has given free electricity?
Which government has given free laptops?
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Gases in subsidy, loan waiver
You will know this very well.
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Do you know which state has waived off VAT tax?
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to keep petrol prices low and inflation does not increase
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I will not name the state otherwise, I will be divided into particular political groups.
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But a google search will tell you, to see one thing carefully.
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Suppose the electricity bill of your house is ₹ 100 now
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Any government waived it and made ₹ 50 you are very happy but
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They are charging the same VAT so the inflation is increasing because of that.
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You are very happy that instead of ₹ 100, our electricity bill has become ₹ 50.
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But when you go out of the house and buy chocolate, flour, lentils, rice, and vegetables
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So all have increased by ₹ 50.
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increased Rs 1 because of inflation.
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So the matter went back and forth like when
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relatives visit our home, they give money to the children and parents took them back
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The government is doing the same thing with you, giving you things for free on the one hand
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On the other hand, increasing inflation has loosened your pocket so the matter same
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The government understands very well that they will reduce VAT and tax.
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So they will not be glorified, it is done by distributing free things.
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So the government also does what you want.
You must have seen every party
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in the parliament is making a ruckus to reduce petrol prices, statements are coming every day
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But the same party is not reducing even ₹1 of VAT in its ruling state.
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Taxing around 70% on ₹100 petrol
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Look, the point is not that the government should not generate revenue.
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The point is that on one hand, you are imposing unnecessary high tax
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Petrol prices are sky touching and at the same time you are distributing things for free to voters
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Nothing will happen by getting a laptop, anything can happen by getting a job.
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loan waiver will do nothing controlling inflation will work
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The record of our country is that whoever has got free things.
He has never been well, think
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In which sector the leaders would give the free things,
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They give it to the sector which has the maximum number of voters, agriculture
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60% of people are directly and indirectly associated with agriculture
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That's why you will see that they bring most of the free things only for the farmers.
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If the free formula was working, the condition of the farmers would not be as it is today.
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Even after giving so many freebies, nothing improved, farmers are committing suicide even today.
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For petrol, Tobacco, and alcohol on all these things, the government can raise 20 to 25% tax overnight.
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The government will have no problem.
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No one will come on the road and no one will picket about all these things.
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Because petrol is seen as if it is only the things of rich people.
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Only for those who have a car but in actuality it is for all
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it affects everything the same thing is also in the case of alcohol
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You will abuse them while drinking you will not picket on the road
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Your family members will say for which Rally you are going?
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The government has figured out this thing, so it budgets for free things.
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and raise taxes, let's say alcohol, and tobacco we can considered but
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Many things are affected by petrol when the price of crude oil increases in the international market.
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Petrol prices are increased immediately but when they are low, the prices of petrol are not reduced
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And I am not saying this thing without any base
Let me show you data from May 2014
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The base price of petrol was 47.12 Rs per litre
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After levying excise and VAT tax, we used to buy for Rs 71.41
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In February 2021 the international oil price was 29.34 Rs
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So the price of petrol should have been reduced too.
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But this did not happen, at that time the price of petrol increased further.
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It becomes 86.30 Rs. Instead of reducing the price, the government increased the tax and
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the increased overall price of petrol, It is not that only one party is doing it, both parties done this
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The ruling party plays in excise duty, an opposition place in States VAT tax, both do the same thing
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The red part in this graph is showing how states have increased taxes
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And the yellow part is showing how the taxes increased by the Central
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State taxes jumped directly from 18% to 23%
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The taxes which have been increased by the Central have been directly increased from 17% to 37%.
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At this particular time, the government has made its revenue more than 75%.
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But when they show the data.
So after seeing years,
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people start supporting their party.
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So let me show the data before 2014 also.
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You can also see the report of the 2012
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The same thing happened at that time too,
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by levying tax on base price
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Petrol prices were raised several times in fact prices were raised 13 times in 2 years.
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Just now the question was asked from the government: why are you increasing the tax so much suddenly?
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you could gradually increase, you increased the tax so much
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that in 2020 the bill had to be passed in the parliament tax hike limit is over,
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The tax limit was increased by passing the bill.
First, the government said that.
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the price of petrol is decided by the petrol companies, so it's true that company decide petrol base price
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But the tax that is imposed on them is completely in the hands of the government.
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If you see a breakup then oil marketing companies are setting rates according to the market price.
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But the real problem is that arbitrary taxes are being imposed.
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People still did not agree, people put pressure on what the government wanted to do
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by increasing the tax so much?
To this the government replied
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that the government which was before us have released oil bond because of that
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We have to increase taxes like this so this is true but what is an oil bond?
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And if it is true?
as ever you need money
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So you take a loan from the bank and pay interest on that amount in the same way when
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the government needs money they release bonds then people buy those bonds
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The government pays interest on them and returns the principal amount after a time.
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If those bonds are released for oil
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So its name becomes Oil Bond, the way today the oil company decides this base price of petrol
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Earlier the government used to decide, Suppose the government has said that
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Petrol price should be ₹ 70 and the cost of petrol has gone up to ₹80.
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So this ₹10 difference is because of the market
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The government will give this as a subsidy but not from the budget
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will release its bond, by doing this the earlier government
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Has released bond worth rupees 1.34 lakh crores
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Which has to pay 9,000 interest every year.
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that's right but the government did not give that money from the budget
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instead, they released its bond, current government
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Has earned revenue in 2020-21 only in one year is 4.18 lakh crore
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If you compare it with the previous bond it is very high
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And what is being said is not entirely true the fact is that
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That tax is being increased too much, this is the reason what tax is not included in GST
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Any government whether it is ruling or opposition
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If petrol is included in GST
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So both will be at a loss.
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That's why even the opposition remains silent while condemning it in strong words.
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There was an SBI report in which they have assumed under an experiment
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That if petrol is included in GST
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What will happen?
In which the rate of 1 barrel
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Was considered $60 and included in the 28% GST slab
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by doing this the prices of petrol become 75 rupees
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And there was a loss of one lakh crores of the Central Government.
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And the state government had a loss of 30 thousand crores.
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And this is the reason why petrol is not included in GST
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Tax is one thing but if we talk about petrol infrastructure
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So we are far behind the rest of the countries
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We need petrol a lot but we have not maintained the infrastructure for that.
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OPEC countries keep changing prices according to their own, arbitrarily but
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In between, such a situation comes when prices go too low like it happened at the covid time
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Crude oil became very cheap,
Countries make storage
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So that when oil is cheap in the market, buy it and reverse it.
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So that we can keep control of petrol prices
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India does too but doesn't do as much, we are far behind compared to other countries
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We also had reserved but we are far behind the rest of the countries, India's 24th rank
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In oil reserve capacity, in India
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There are three strategic petroleum reserves which were proposed in 1998
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By Atal Bihari Bajpai Ji and in 2005
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Opened by Manmohan Singh Ji, since then till today there are only three reserves.
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The good thing is that Modi Ji has announced that two more will be opened.
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and started work but it should have been a long time ago
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There should be more reserves, even after opening these two reserves, we are far behind.
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according to our need, all these things should be in the manifesto but unfortunately
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They are not included, what things we will get for free, it is available in the manifesto.
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