Oil prices and Kargil
The UPA government led by the Congress party is proposing a cess on income and corporate tax to address the recent spurt in international oil prices.
Consider this gem,
“We don’t want to see scarcity of petroleum products particularly kerosene and LPG,” Deora told reporters after the meeting. ..
Sources said a cess or surcharge like the one levied after the Kargil war, may be imposed on income and corporate tax to make up for the cut in customs duty on crude oil to zero from 5 per cent and an excise duty cut on petrol and diesel.
Source : PTI
Mr Deora (of the Congress party) – here is a question for you.
My neighbour Mr Mahadevan switched to his TVS 100 cc bike from his Santro car to deal with the last major hike in Petrol prices. A cess on income tax is immoral and reprehensible to millions of Indians like him who adjust their consumption. Why should my other neighbour Mr Selvam pay more income tax, he walks to his office for gods sake ?
Comparing a seasonal trend in oil prices to a national security crisis like the Kargil war is outrageous and insulting to both donors and jawans who laid down their lives.
The right approach is to Increase the fuel prices and deal with the fallout. The bite in the pocket must be linked to consumption.
Is the UPA government up to the task ? Take a guess.