Bringing petro products under a uniform Goods and Services Tax could ensure equity for consumers across state borders. But in May, US President Donald Trump decided that Iran — a major oil exporter — should be threatened with sanctions for alleged deviations from oversight constraints on its nuclear enrichment programme, agreed with the United States under former President Barack Obama. But more sustainable options are needed to remain within the fiscal deficit target of three per cent of GDP. The difference is that Delhi and Goa levy lower value-added-tax on petroleum products (PP) than poorer jurisdictions, even though they are havens for high-income residents. Equity should start at home.6 per barrel.State-level autonomy should be respected, but not to subsidise the better-off.

Our metros, like the National Capital Region, are well and truly mollycoddled. The average exchange value of the rupee against the US dollar was 24 per cent lower at Rs 64.Consumers of petrol and diesel feel shortchanged since they never benefited from the decline of international crude oil prices. Oil price fluctuations are a source of considerable volatility in the exchange rate of the rupee. These magnets of opportunity attract migrants well beyond sustainable levels, who feed their sprawl.There was an insignificant change in the average retail price for petrol in Delhi between these two periods. Massive, mobile chunks of highly-polished metal do not define the value of a human.

This is an unsustainable draft on foreign exchange resources. It is a merit good. Part of the reduction in oil prices was negated by depreciation of the Indian rupee. This has knock-on negative effects on cross-border capital flows and the servicing of our external debt.Delhi accommodates just 1. We expected lower oil prices. The use of cooking gas rather than wood, coal or kerosene, has significant health benefits, particularly for women. The retail prices of diesel and petrol are the lowest in Delhi, among India’s key metropolitan cities. Levying user charges for overnight parking can reduce encroachment on colony roads in residential areas. During the past four years (FY 2015 to FY 2018), the average cost of the Indian basket of crude was 43 per cent lower at $58.India is particularly vulnerable to collateral damage on its energy security. This was sensible. Goa has the highest per capita gross state domestic product, followed by Delhi. Low retail prices for petro-fuel incentivise Delhiwallahs to shun public transport; car pooling; the use of bicycles or merely walking to their destinations. It isn’t cheaper to supply them to the national capital than in Chennai, Mumbai or Kolkata. (Representational Images) The retail prices of diesel and petrol are the lowest in Delhi, among India’s key metropolitan cities. Punitive tax rates on PP are desirable to slash consumption.Two-thirds of the cost comes from the purchase price of the car and its maintenance.A mix of incentives and disincentives can wean people off their yen for motorcycles and cars.

Admittedly, Delhi has severe security issues - particularly for women. All those who choose to live here must learn to pay for the social and environmental cost they impose on the rest of India via their higher consumption standards. Using Rs 300 billion, or 10 per cent of the Union government’s Rs 2. In addition, there is the global need to curb carbon emissions and the domestic imperative to reduce air pollution and road congestion in cities.Significant changes in the oil price ($82.10 in the earlier period FY 2011 to 2014.

Is this a killer for the average consumer?Not really.Consider also the ensuing disincentive for a commercially viable, well-staffed, secure and reliable public bus or metro service because the alternative of personal transport is much more attractive.8 trillion revenue from indirect taxes and royalty on the petroleum sector, as subsidy to promote cooking gas is justifiable.In March 2018 the International Energy Agency said that "oil production growth from the United States, Brazil, Canada and Norway could keep the world well supplied, more than meeting global oil demand growth through 2020".We import 80 per cent of our PP requirement. Consider that even at Rs 85 per litre, the petrol cost is just one-third of the total cost of using a low-end, high fuel-efficiency car over a life cycle of 100,000 km. And Delhi - the home of two governments and five municipalities - is the biggest beneficiary of a twisted application of this principle. The retail price for petrol in Delhi of Rs 80-plus per litre could be here to stay.Discriminatory taxes on the blown film extruder of vehicles, graded by their carbon intensity and on fossil fuels - other than cooking gas and natural gas for meeting peak electricity demand - are socially desirable.India is particularly vulnerable to collateral damage on its energy security. The rupee will also likely remain around Rs 72 to Rs 74 to the US dollar.73 per barrel currently for the India basket) are unlikely this year.6 per barrel, than during the previous four fiscal years at $102.