Centre and state governments collect over Rs 2 lakh crore from taxes on the petroleum products, Rajya Sabha was informed today.
Replying to a debate on Finance Bill 2011, Finance Minister Pranab Mukherjee said the central government collected Rs 1,11,779 crore in taxes from the petroleum sector in 2009-10, while states earned Rs 96,339 crore.
Rejecting a demand for specific duty on petroleum sector to avoid cascading effects of price rise on consumer, Mukherjee said it would not be prudent to disturb the present system.
"I receive all the flak but ...but have a small share", he said, adding out of over Rs 1.11 lakh crore the centre retained only Rs 87,500 crore as Rs 24,000 crore was passed on to states.
Replying to a debate on Finance Bill 2011, Finance Minister Pranab Mukherjee said the central government collected Rs 1,11,779 crore in taxes from the petroleum sector in 2009-10, while states earned Rs 96,339 crore.
Rejecting a demand for specific duty on petroleum sector to avoid cascading effects of price rise on consumer, Mukherjee said it would not be prudent to disturb the present system.
"I receive all the flak but ...but have a small share", he said, adding out of over Rs 1.11 lakh crore the centre retained only Rs 87,500 crore as Rs 24,000 crore was passed on to states.
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