Today
Petrol Price Rs. 80/- in many states was one of prime news. In May 2014, Cost
of Crude Oil was Rs. 41/- and Selling price was Rs. 70/-, In August 2017, Cost
of Crude Oil is Rs. 20/-, yet selling price is Rs. 70/- (Cost Price Rs. 20/-,
Taxes Rs. 43/-, Other Expenses and Sellers Margin/Commission Rs. 7/- per ltr)
to Rs. 80/-. Main Reason - Increase in Excise Duty and VAT in three years, so
many times. Govt is trying best to justify these prices, but not succeeding.
This is right time to set an example of passing the benefit to consumer of
heavy reduction in cost. The same is expected from traders as placed
Anti-Profiteering Provisions in GST. Instead of increasing tax every time, Govt
must control or manage cost on different projects. CAG Reports has revealed so
many times, unlimited and unnecessary projects are being executed and repeated
by many ministries. Finance Ministry Role is only limited to budget
preparation, this is same, in the companies where CFO is considered not more
than an accountant, and ignored by CEO/Board in all important decisions, those
companies can't survive for long. So, Need to Reinvent and Refresh Finance
Ministry. Need a dynamic young Finance Minister. AJ or any Senior Leader can be
Adviser. If it would have happened, Implementation of Demonetization and
GST were not so pathetic and painful.
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