[Marxistindia] Withdraw Excise Duty Hikes on Petroleum Products

[news from the cpi(m)]

February 18, 2021
 
Press Statement
 
The Polit Bureau of the Communist Party of India (Marxist) has issued the
following statement:
 
Withdraw Excise Duty Hikes on Petroleum Products
 
The Polit Bureau of the CPI(M) strongly denounces yet another hike in the
prices of petrol, diesel and cooking gas.  These hikes in excise duties come
at a time when international oil prices have fallen with the base price for
petrol being Rs. 47.12 in 2014 to Rs. 29.34 in 2021, i.e., nearly 50 per
cent.  
 
The main reason for these escalating prices is the unbridled hike in the
excise duties by the Central government, which today is 38 per cent of the
cost of petrol.  The tax levied by the Centre increased by a whopping 217
per cent since this Modi government assumed office in 2014.
 
These hikes in the excise duties are clearly meant to offset the losses to
government revenues due to the tax concessions provided to the corporates
and income tax payees.  There is a significant reduction in the corporate
and income tax revenues from 6.81 and 6.38 lakh crores respectively last
year - a reduction to 5.47 and 5.61 lakh crores respectively, as shown in
the 2020-21 budget.
 
The Modi government's bonanza to the rich and its cronies is sought to be
made up by these excise duty hikes imposing further burdens on the people,
who are already groaning under the double whammy attack on their livelihoods
by the pandemic and the economic recession.
 
Further, the hikes in prices of petroleum products will result in higher
transportation costs which will increase the prices of all essential
commodities.  The cascading inflationary effect will further worsen the
economic recession.  
 
The Polit Bureau of the CPI(M) calls upon all Party units across the country
to organize protest actions demanding that the Centre withdraw these excise
duties.
 
 
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