Petrol, diesel prices on the rise again
New Delhi, Oct 7 : Within a day of the one-off excise duty cut and PSUs subsidising fuel, petrol and diesel prices are on the rise again and have hit a three week high.
Petrol and diesel prices were cut by a minimum Rs 2.50 on October 5 when the government's only second cut in excise duty of Rs 1.50 per litre and state-owned fuel retailers providing a Re 1 per litre subsidy came into effect. In BJP-ruled states, the reduction was higher as they matched the cut with a similar reduction local sales tax or VAT.
But the prices were on the rise from the very next day. Petrol price was hiked by 18 paise a litre on October 6 and 14 paise on Sunday, according to daily price notification issued by state-owned oil firms.
Petrol, which in Delhi was cut to Rs 81.50 on October 5, on Sunday costs Rs 81.82.
Similarly, diesel rates are hiked by 29 paise a litre each on October 6 and Sunday. It costs Rs 73.53 per litre in Delhi, up from Rs 72.95 on October 5, according to the oil firms.
Delhi, which did not cut VAT on fuel, still has the cheapest fuel in all metros and bulk of state capital as it levies lower taxes. Mumbai despite reducing VAT on petrol still has the highest priced fuel.
Petrol in Mumbai sells for Rs 87.29 a litre on Sunday and diesel is priced at Rs 77.06.
Petrol prices had hit an all-time high of Rs 84 per litre in Delhi and Rs 91.34 in Mumbai on October 4. Diesel rates too had peaked to Rs 75.45 a litre in Delhi and Rs 80.10 in Mumbai. Following the twin decision, they fell to Rs 81.50 per litre of petrol in Delhi and Rs 86.97 in Mumbai.
Diesel rates fell to Rs 72.95 in Delhi and Rs 77.45 in Mumbai on October 5.
On Sunday, the rates hit a three-week high.
Private retailers like Nayara Energy, formerly known as Essar Oil, too are matching PSU rates by subsidising fuel by Re 1 a litre.
After the Centre cut excise duty by Rs 1.50 per litre and asked PSU oil firms to subsidise fuel by Re 1, Maharashtra and Gujarat governments were among the first to announce a matching Rs 2.50 cut.
They were later joined by Chhattisgarh, Jharkhand, Tripura, Uttar Pradesh, Madhya Pradesh, Himachal Pradesh, Haryana Assam, Uttarakhand, Goa and Arunachal Pradesh with similar moves. Jammu and Kashmir, which is under governor's rule, too reduced tax on the two fuel.
Maharashtra, however, reduced VAT only on petrol and not on diesel.
Even before the excise duty cut, Rajasthan, West Bengal, Karnataka, Kerala and Andhra Pradesh had last month reduced VAT to cushion consumers for a spate of price increases.
The reduction in excise duty, only the second in four years of BJP-led NDA rule, will dent central government revenues by Rs 10,500 crore and was aimed at cooling retail prices that had shot up to an all-time high.
The BJP-government at the Centre had raised excise duty on petrol by Rs 11.77 a litre and that on diesel by Rs 13.47 a litre in nine installments between November 2014 and January 2016 to shore up finances as global oil prices fell, but then cut the tax just once in October last year by Rs 2 a litre.
Prior to Friday's cut, petrol price had risen by Rs 6.86 a litre and diesel by Rs 6.73 since mid-August - the most in any six-week duration after the daily price revision was introduced in mid-June last year.
Industry sources said for state-owned fuel retailers absorbing Re 1 per litre price would mean a Rs 9,000 crore hit on profits on an annualised basis. For the remainder of current fiscal, it would be Rs 4,500 crore, with IOC's share being roughly half and the rest is split equally between HPCL and BPCL.
Almost half of the fuel price is made up of taxes. The Centre, prior to the excise duty cur, levied a total of Rs 19.48 per litre of excise duty on petrol and Rs 15.33 per litre on diesel. On top of this, states levy value-added tax (VAT).
The hike in duties in 2014-16 had led to excise collections from petro goods rising from Rs 99,184 crore in 2014-15 to Rs 2,29,019 crore in 2017-18. States saw their VAT revenue rise from Rs 1,37,157 crore in 2014-15 to Rs 1,84,091 crore in 2017-18.
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Nearly 700 km of Karnataka rivers polluted; cities, towns depend on contaminated water
Shivamogga: A total of 693.75 of river stretches across Karnataka are polluted, and water from several of these rivers is being supplied to towns and cities, the State government informed the Legislative Assembly.
According to a report published by The New Indian Express on Monday, replying to an unstarred question by Thirthahalli MLA Araga Jnanendra during the winter session in Belagavi, Forest, Environment and Biodiversity Minister Eshwar Khandre said rivers are classified into five categories, P1 to P5, based on Biochemical Oxygen Demand (BOD) levels, with P1 being the most polluted.
He reportedly said untreated domestic wastewater from urban and rural areas is the main reason for river pollution. Arkavati, Lakshana Teertha, Tungabhadra, Bhadra, Tunga, Cauvery, Kabini, Kagina, Krishna, Shimsha, Bheema and Netravati are the polluted rivers and so far, 112 polluted drainages along these rivers have been identified.
Khandre explained that rivers are classified into five pollution categories P1 to P5. The Arkavati River has been placed in the P1 category, while no rivers fall under P2 and P3. Tungabhadra, Bhadra and Shimsha are categorised under P4, and eight other rivers fall under P5.
Khandre allegedly said domestic wastewater from municipalities, towns and villages along riverbeds is being discharged into at least 17 rivers, identified by the Central Pollution Control Board (CPCB). This is the primary cause of river pollution.
According to the report, the minister said drinking water is being supplied from polluted rivers in districts such as Mandya, Ramanagara, Vijayapura and Shivamogga. In parts of Uttara Kannada, Ballari, Vijayanagara and Bagalkot, local bodies are also drawing water from polluted river sources.
In 2022-23, CPCB identified South Pinakini, Aghanashini, Sharavathi and Gangavali rivers too as polluted. But wrote to CPCB, stating that these rivers are not polluted and sought their removal from the list. An action plan is being prepared for the South Pinakini River, he said.
On remedial measures, Khandre reportedly said the Karnataka State Pollution Control Board is setting up sewage treatment plants as per the directions of National Green Tribunal.
As per the report, under 12 river rejuvenation plans, the state generates 817.31 million litres per day (MLD) of sewage. While 41 STPs with a capacity of 614.1 MLD are operational, 203.21 MLD of sewage remains untreated.
Work is underway to establish 19 STPs with a capacity of 248.91 MLD, while 39 more STPs with a combined capacity of 357.92 MLD are in the planning stage. Progress is being monitored and reported regularly to the NGT and the Union Ministry of Jal Shakti.
The minister reportedly said the state government gave its approval for underground drainage works worth Rs 535.56 crore in 2021 for 24 cities/towns besides Rs 523.80 crore for nine UGD projects.
