Majority of Indians cutting expenses to cope with high fuel prices: Survey | 51% people cut other expenses to compensate for the increased prices of petrol and diesel.

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  • Majority Of Indians Cutting Expenses To Cope With High Fuel Prices: Survey

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New Delhi40 minutes ago

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  • People are cutting expenses and savings of essential commodities
  • 79% said – State governments take action on increased prices

Petrol and diesel prices in the country have reached their record levels. Petrol has crossed Rs 100 per liter in many cities. To compensate for the increased prices of petrol and diesel, 51% people are cutting other expenses. This has been revealed in a survey of local circles.

People are cutting spending on essential commodities

21% of the people surveyed said that they are cutting spending on essential commodities to compensate for the increased prices of petrol and diesel. While 14% said they were having to cut their savings. 43% of the people surveyed said that their monthly bill of petrol or diesel is lower than before due to reduced travel, work from home or other reasons. At the same time, 2% people said that they do not spend any money on petrol and diesel.

State governments should reduce VAT

In response to a question, 32% of the people said that state governments should levy Value Added Tax (VAT) on the basis of entire value instead of percentage at base price. 47% of the people surveyed said that state governments should cut VAT. However, 8% of consumers said that the current model of VAT is good.

79% said – State governments should take action

79% of the people surveyed said that state governments should take action against rising petrol and diesel prices. For this, VAT should be deducted or levied on the entire price. Instead of levying VAT as a percentage of the base price, the levy on the entire price will help keep petrol and diesel prices down. Apart from this, the increase in the base price of petrol and diesel in future will also reduce the prices.

Survey conducted in 291 districts

Petrol-diesel prices have increased drastically in the last 12 months. How are people dealing with this? To find out, LocalSarkles has done this survey. This survey has been done in 291 districts of the country. More than 22 thousand people were questioned in the survey.

Price did not increase for the second consecutive day

After increasing the prices of petrol and diesel for 12 consecutive days, the price has not increased for the last two days. Presently, petrol in the capital Delhi is Rs 90.58 and diesel is Rs 80.97 per liter. Similarly, petrol in Mumbai is Rs 97.00 and diesel Rs 88.06 per liter, in Kolkata petrol is Rs 91.78 and diesel is Rs 84.56 and in Chennai petrol is Rs 92.59 and diesel is Rs 85.98.

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Prices increased 24 times in 52 days

As of February 21, petrol and diesel rates have increased 14 times this month. During this time, petrol in Delhi has become expensive by Rs 4.03 and diesel by Rs 4.24. Earlier in January, the rate increased 10 times. During this time, the price of petrol was increased by Rs 2.59 and diesel by Rs 2.61. At the same time, if you talk about 2021, this year, prices have increased 24 times in 52 days. Petrol has become costlier by Rs 6.77 and diesel by Rs 7.10.

3 reasons why petrol and diesel are expensive

Crude oil is at the most expensive level in 13 months. Crude oil has become costlier by 23% so far this year. On January 1, Brent crude was priced at $ 51 per barrel. It has now crossed $ 63. The reason for this is that positive growth is being seen in economic activity worldwide. Fuel demand has increased due to this. The central government is not reducing excise duty on petrol and diesel. If you take the example of Delhi, then there is an excise duty of Rs 32.90 on a liter of petrol and Rs 31.80 on diesel. State governments also levy VAT on petrol and diesel. For example, one liter of petrol in Delhi includes VAT of Rs 20.61.

Assam and West Bengal cut prices

To give relief to the common people, West Bengal and Assam have cut the prices of petrol and diesel. West Bengal’s Mamta government has cut the prices of petrol and diesel by Rs 1 per liter. This deduction has come into effect from Sunday night. The BJP-ruled state of Assam has cut prices of petrol and diesel by Rs 5 per liter. It was announced in the Legislative Assembly on 12 February by the State Finance Minister Hemanta Vishwasarma.

Sonia Gandhi demanded withdrawal of increased price

Congress interim president Sonia Gandhi has written a letter to Prime Minister Narendra Modi to reduce the tax on oil. They have written that their prices are at historical highs these days. I do not understand how any government can justify such thoughtless and insensitive decisions? These decisions are increasing the burden on the people of the country. Sonia wrote in a letter to the PM, “I request you to withdraw the price hike as soon as possible and provide relief to the general public, along with our middle class, salaried class, our farmers and the poor.”

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