Thiruvananthapuram: Rising fuel prices may be wreaking havoc with the lay man's budget, but it is certainly making the Kerala government richer. The tax revenue on fuels brought Rs 640 crore to the state's coffers in January alone. The govt collected Rs 18 crore additional revenue in January compared to December.
As per the Goods and Service Tax (GST) cell of the state government, this is the highest collection since last October. The government expects the revenue to further increase this month as global fuel prices surge.
After excise duty, tax on fuel ropes in huge revenues to the state government's kitty.
The LDF government has already made it clear that it will not cut the tax on petrol and diesel. Earlier, finance minister T M Thomas Isaac had informed the Assembly that rising fuel prices has been pumping in more money to the treasury.
State government's revenue from fuel tax:
May, 2017 – Rs 631 crore
June – Rs 669 crore
July – Rs 537 crore
August – Rs 648 crore
September – Rs 623 crore
October – Rs 601 crore
November – Rs 569 crore
December – Rs 622 crore
January 2018 – Rs 640 crore
The fuel price changed at least 37 times between June 2016 and January 2018. Government collected Rs 57.34 crore additional revenue on fuel tax.