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| PARLIAMENT
QUESTIONS AND ANSWERS ON PETROLEUM SECTOR |
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GOVERNMENT OF INDIA
MINISTRY OF PETROLEUM AND NATURAL GAS
LOK SABHA
STARRED QUESTION NO 241
TO BE
ANSWERED ON 10.08.2006
HIKE IN PRICES OF PETROLEUM
PRODUCTS
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SHRI SAMBASIVA
RAYAPATI RAO
BALASHOWRY VALLABBHANENI
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Will the Minister of
PETROLEUM AND NATURAL GAS be pleased to state:-
(a) whether the Government has evolved any policy
to ensure that there is no corresponding steep
hike in prices of petroleum products in the
country when there is any hike in the
international market;
(b) if so, the details thereof; and
(c) if not, the concrete measures proposed to be
taken to protect the interest of the common man ?
ANSWER
MINISTER OF PETROLEUM AND NATURAL GAS (SHRI MURLI
DEORA)
(a) to (c): A Statement is laid on the Table of
the House.
Statement referred to in reply to parts (a) to (c)
of Lok Sabha Starred Question No.241 by Shri
Rayapati Sambasiva Rao and Shri Balashowry
Vallabhaneni to be answered on 10th August, 2006
regarding hike in prices of petroleum products.
(a) to (c): Yes, Sir. Government has evolved a
policy of equitable burden sharing amongst the
three stakeholders, namely, the consumers, the PSU
oil companies and the Government, to ensure that
there is no corresponding steep hike in prices of
petroleum products in the country, whenever there
is any hike in the international market. This
policy has been evolved in the context of
unprecedented increase in international oil
prices, with a view to moderate its impact on the
common man. Though the Indian basket of crude
price has almost doubled since end 2004,
Government took a decision not to increase the
prices of PDS kerosene and domestic LPG to protect
the interests of the weaker sections of society
and the common man.
We import 76% of our crude oil requirements. The
total under recovery on account of escalated
international prices of crude oil is estimated at
Rs.73,500 crores for the current year. Government
along with oil companies have decided to absorb
87.5% of this burden. Only the balance 12.5% is to
be borne by the consumers by way of a modest
increase in petrol and diesel prices.
Besides the above, Government has taken the
following measures to protect the interest of the
common man :
# Central taxes, namely, excise duty and customs
duty on kerosene and LPG have been completely
removed.
# Customs duty on petrol and diesel has been
reduced to 7.5% as against 20% in May 2004.
# LPG has been placed under declared goods
category reducing the sales tax to a maximum of
4%.
# Based on the request made to the State
Governments to moderate the impact of price rise
on the common man, ten State Governments, namely,
Andhra Pradesh, Delhi, Goa, Haryana, Himachal
Pradesh, Maharashtra, Tamil Nadu (diesel only),
Uttaranchal, Manipur and Assam, have reduced the
sales tax on Petrol and Diesel to reduce the
burden of the recent price hike.
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