Mr. K.T. Rama Rao, the Information Technology and Urban Development Minister of Telangana, took a dig at the Prime Minister of India, over a Russian discounted oil purchase.
Sharing a news report of Financial Express, Mr. K.T. Rama Rao tweeted, “While we are demanding relief for all Indians by way of removal of Additional Excise Duties & Cess, NPA Govt decides to reduce #WindfallTax on Fuel !!
Priorities of NPA Govt are clear but the Question is; into whose pockets are the Windfall Gains being routed to?”
In another series of tweet, Mr. K.T. Rama Rao questioned PM Mr. Narendra Modi that with this discounted Russian oil purchase by Indian Oil traders
The tweet read, “Any Guesses who is getting all the benefit from discounted oil from Russia? Richie Rich Friends of Modi Ji or Not so lucky Indian Citizens? #ModiRemoveCess #ReduceFuelPrices.”
The tweets and criticism came after Reliance India led by Business Tycoon Mr. Mukesh Ambani purchased Russia Crude Oil at a heavy discount of USD 60 Price Cap. The purchase came after Europe banned the import and export of Russian oil. The dealers in Russia are selling their fuel at heavily discounted prices. The G7 nations have imposed a price cap of USD 60 per barrel to curb the Kremlin’s capability to fund its war against Ukraine.
After the oil purchase, the Indian Government led by the Bharatiya Janata Party (BJP) reduced the tax on domestic crude oil from Rs. 4,900 per tonne to Rs. 1,700 per tonne. As per government notification, “Tax on aviation turbine fuel (ATF) has been reduced to Rs 1.5 per litre from Rs 5 per litre.”
It is to be noted, India is the world’s third largest consumer and exporter of oil. Furthermore, India imported 8,61,461 barrels of oil per day from Iraq and 5,70,922 barrels per day from Saudi Arabia in November, suggested a media report.
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