So When Will Fuel Prices Go Down?

Brut India

Finance minister Nirmala Sitharaman said it was a "dharam sankat" when a student asked her about high petrol and diesel prices.

Transcript

00:00When is the government planning to reduce the cesses on fuel because I mean I go to the petrol pump and if I see

00:06triple digits for single liter

00:08really sad

00:10It's a Dharam Sankat

00:15Are my answers long? Are you getting fed up? Not really.

00:19I tend to talk with a longer explanatory answer. So if you want a short one, tell me

00:24I'll probably quickly give a bite and finish it

00:27We like the long answers

00:30He's too polite for conducting a program like this.

00:40So actually, okay, I was just gonna deliver a punch so I was just I

00:44Wanted to address the Dharam Sankat in the room because you have sort of alluded to this problem

00:50So when is the government planning to reduce the cesses on fuel because I mean I go to the petrol pump and if I see

00:57triple digits for single liter

00:59really sad

01:04I was too quick to say no that this guy lacks the punch

01:12I won't be able to say when

01:19It's a Dharam Sankat

01:22I

01:24Mean even when abroad I mean like the fuel prices are going down. This is like a nice way of

01:30generating revenue so will that

01:32Stance change because now of course oil futures are going up prices will go up

01:37So now this is still fine

01:40But like earlier when during the covid pandemic prices were down fuel prices in India are still high

01:46So this stance that you can make the fuel

01:49Cess to generate government revenue will that change anytime? Hey, it's not just the cess

01:56You have an excise duty of the center

02:00Then you have a vat of the states which are percentage driven

02:06We can bicker about who earns more

02:11Even if you want to say and you are right if you say the center earns more

02:17Everything that the center earns

02:2040% of it goes to the states. So what I'm left with is only that portion. Although the total amount is what you're saying

02:31So there's just no

02:35Hiding the fact that there is revenue day

02:40There's just no hating the fact

02:42and

02:44It's not just me you ask any state

02:51There's revenue there

02:54Just like may not apply to Gujarat just like

03:02You know, there's revenue way

03:05And in that States Center has nothing

03:09So there is a revenue there is a revenue consideration

03:13Both for the center and the states and that is why I strongly believe

03:19It's no longer competitive

03:22If the end consumers should be less

03:28And the burden should be less on them and I agree there on that point and

03:33I concede it also from the point of view of the pet point of you know

03:38More the fuel cost more the inflation you have many arguments

03:42but

03:45It's no longer competitive for anyone to say a center you reduce first then the states will come on board

03:52They may or may not

03:54if eventually we want the consumers not to be

03:58Bearing on so much of a burden on the score

04:02It is both the center and the states which will have to talk. I am sure immediately

04:08Our man is going to tell me so when are they going to talk? When are you cutting down?

04:13Yes, I

04:15concede

04:16That's where action has to be and let's see what we can do

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