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| Taxes account for 51.5%
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New Delhi, March 9 /--/ More than half of the Rs 47.43 a litre retail price of petrol in Delhi is made up of taxes, after Union finance minister Pranab Mukherjee raised excise and customs duty on auto fuels in the Budget 2010-11.
Mr Mukherjee last month raised excise duty on petrol and diesel by Re one per litre and import duty from 2.5 per cent to 7.5 per cent, resulting in a 12.7 per cent increase in tax component in the retail selling price.
Minister of state for petroleum and natural gas Jitin Prasada informed Rajya Sabha that Central and state taxes make up for Rs 24.41 or 51.5 per cent of the retail selling price of Rs 47.43 a litre of petrol in the national capital.
Prior to the February 26 proposal, customs and excise duties and state taxes totalled to Rs 21.65 in the retail selling price of Rs 44.72 per litre.
In case of diesel, taxes comprise Rs 10.73 or 30.25 per cent of Rs 35.47 a litre retail selling price in Delhi.
Earlier, one-fourth (Rs 8.11) was the tax component in retail price of Rs 32.92 per litre.
The Budget proposals led to a Rs 2.71 a litre increase in petrol prices and Rs 2.55 per litre hike in diesel rates.
Mr Prasada said customs duty contributed Rs 1.73 in the retail price of petrol, excise duty Rs 14.78 and state taxes Rs 7.90. In case of diesel, Rs 1.80 was because of import duty, Rs 4.74 due to excise and Rs 4.19 resulting from state taxes. (PTI)
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