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Fiscal Greed n Manupulation by GOI (1)   17-May-08 07:31Tracked by (0)  
Posted by:   sonu11 on ( 17-May-08 07:31 )
Let us make some rough but authentic calculation

Cost of One Barrel of Crude 125 USD
Refining Margin * 8 USD
Exchange Rate US / INR Rs.42

Cost of Production 5586 Per Barrel

Litre Per Barrel 163.8417

Cost of Production Per Litre 34.10
Gross Marketing Expenses 3.00 Per Litre

Cost Per Litre of Oil 37.10

*This is respectable Refining Margin which can generate above 20+% IRR On Refinery Project Cost

Calculate the margin/Tax Govt makes on per litre of oil.

The government be it central or states are running on the tax collection from these Oil refining and marketing companies.

Govt. fiscal prudence and balance is based on the revenue collection from these companies. Govt collects Tax in cash and return them Oil Bonds which is off balance sheet item as far as Govt accounts are concerned.

This Govt. has eroded the entire buffer which India created post the period when it had to lieu its Gold.

17 may 2008
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