Moneylife - Linkedin Moneylife - Facebook Moneylife - Twitter Moneylife - Youtube Moneylife Rss feed
close

Moneylife » Economy & Nation » Economy » Taxes are root cause for under-recovery of oil companies: Raise Your Voice -Part 1

Taxes are root cause for under-recovery of oil companies: Raise Your Voice -Part 1

    • Dayananda Kamath K
    • Prakash C Sheth
    • Dayananda Kamath K
    • Bakul Gandhi
    • M G Warrier
    • 17 comments

EAS Sarma | 24/09/2012 12:44 PM | 

EAS Sarma, former secretary to the Government of India shares findings of the National Institute of Public Finance on how diesel prices are loaded! He also exposes how core sectors such as agriculture, transport, power and industry will bear the brunt of the rise. Now is the time to raise your voice…

Prime minister Dr Manmohan Singh had made it look as though the hike in the price of diesel was the most urgent act of reform on the part of his government. Let us consider it in the overall perspective of the oil economy of our country.

 

While using his “money-does-not-grow-on-trees” argument, the PM had informed the nation how the public exchequer could no longer bear the burden of the so-called ‘subsidies’ on diesel and cooking gas. He conveniently failed to inform the nation that his government had granted generous tax exemptions to the corporate world and these were estimated at Rs3.92 lakh crore during 2011-12 as evident from Annexure 15 of the Receipts Budget presented by his finance minister to the Parliament this...


To continue reading this article, you must be a Premium subscriber...

Premium Content

Monthly Digital Access

Already A Subscriber?



  • Moneylife Magazine issues launched during the month
  • Archives from 2006
  • Automatic membership of Moneylife.in to help you access the site, comment, create alerts
  • Daily and weekly newsletters for news and views with a difference in your mailbox
  • Automatic membership of Moneylife Foundation
  • Automatic basic membership of Moneylife Smart Savers, our upcoming initiative
  • Details of our initiatives, local events, deals & discounts

Yearly Digital+Print Access

Already A Subscriber?



  • Print magazine copies
  • Digital access to archives from 2006
  • Automatic membership of Moneylife.in to help you access the site, comment, create alerts
  • Daily and weekly newsletters for news and views with a difference in your mailbox
  • Automatic membership of Moneylife Foundation
  • Automatic basic membership of Moneylife Smart Savers, our upcoming initiative
  • Details of our initiatives, local events, deals & discounts

Rs99

Rs 780

Rs 1560

Rs 2340

Moneylife Magazine
Daily Newsletter

1,00,000 Readers

Follow Moneylife
DNL facebook icon DNL linked in icon DNL twitter icon DNL youtube icon DNL rss icon

What's your say?

How do you rate the first budget of Modi Government?
Good
Bad
So-so
 
Enter Code : secure code
    change code
VOTE

What you said

What should be the income tax exemption limit?

Thanks for casting your votes! View Previous Polls