27 September Monday
Oil companies in the public sector recorded profit 8 times over in 2020-21 compared to the year earlier

Fuel Tax: Centre Received Double The Amount Than States

CorrespondentUpdated: Thursday Jul 29, 2021

Thiruvananthapuram: In the last financial year, the centre amassed twice as much in  taxes raised on petrol, diesel and cooking gas   compared to the share received by states.  The total of fuel tax for 2020 - 21 amounted to Rs 6.71 lakh crores, of which, the centre sliced away Rs 4.54 lakh cr, meaning the states together received  just  Rs 2.17 crores.  In the year 2019-20, the centre took Rs 3.34 lakh crores in fuel taxes and states had received Rs 2.21 lakh crores. The information was divulged by Deputy Minister for Petroleum and Natural Gas, Rameshan Thelli, in his response to a query raised in  Lok Sabha.

Public sector oil companies registered a profit eight times over compared to the last financial year. Their net profits figure at : IOC(21,836), BPCL(19,042) and HPCL(10,664). Gross profits raked up by oil companies amounted to a whopping Rs 51,542 crores last year as against Rs. 6633 in 2019-20 and Rs 30,055 crores in the pre-pandemic year of 2018-19.