New Delhi: As fuel prices in the country continue to remain at an all-time high, a new survey has found that 77 per cent of citizens want petrol and diesel to be included under the ambit of the Goods and Services Tax (GST).
The survey conducted by community social media platform LocalCircles noted that after the second wave of coronavirus, “51 per cent households said that they have cut spending to cope with high petrol/diesel prices; 21 per cent had even cut essentials spending and were feeling the pinch strongly while 14 per cent expressed they were even dipping into savings to pay for it.”
Bringing petrol and diesel under the ambit of GST will significantly improve the cost of living for many. The price of petrol and diesel can come down to Rs 75 per litre and Rs 70 per litre with a 28 per cent GST rate. “This could give a huge impetus to the economy and businesses via increased consumer spending. However, both the center and states will see loss of revenue in the short term,” the survey notes.
The survey included 7,500 responses from across 379 districts of India where men accounted for 61 per cent and women accounted for 39 per cent of the participants. A majority of the respondents (44 per cent) belonged to tier 1 districts, 29 per cent to tier 2 while 27 per cent respondents came from tier 3, 4 and rural districts.
GST Council meeting
The survey comes ahead of the GST Council meeting Friday, which is likely to consider bringing petrol, diesel and other petroleum products under the GST ambit.
“As long as the process begins to migrate petrol and diesel under GST, most of these 77% will be happy seeing the light at the end of what has been a very dark tunnel this past year,” the survey says.
Currently, petrol prices stand at Rs 101.19 per litre and diesel prices at Rs 88.62 per litre in the national capital. In Mumbai, petrol is being sold at Rs 107.26 per litre and diesel at Rs 96.19 per litre. The prices have remained unchanged for the 11th consecutive day.