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Centre can’t afford to cut taxes on something as remunerative as fuel

States can take the burden as Union govt. has promised to make up for shortfall

With petrol and diesel prices hitting record levels over the past few days, calls from industry chambers and consumers for the government to cut its excise duty rates on fuel have become all the more strident. However, the Centre has so far held off on pulling that trigger, which is an unusual stance in the run up to the general elections. One major reason why a government would hold off on such a popular move is that it simply cannot afford it.
According to the Petroleum Planning and Analysis Cell (PPAC), the Centre earned ₹2,42,691 crore from excise duties on fuel in 2016-17. That year works best as a reference because it is the most recent year in which excise duty rates remained unchanged throughout.
At the time, the excise duty rate on petrol was ₹21.48 and on diesel ₹17.33 per litre. The government has unofficially estimated the revenue loss of a ₹1 cut in excise duties on fuel at ₹13,000 crore, while back-of-the-envelope calculations by The Hindu peg this at anywhere between ₹11,000 crore and ₹14,000 crore.
The government said it earned ₹7.41 lakh crore from GST in the nine months of its implementation till March 31, 2018. That’s an average of about ₹82,000 crore a month. Most analysts say that this amount should have been consistently ₹1 lakh crore a month. April 2018 did see GST collections exceeding that mark, but even the government said that the figure should not be used to predict a trend.

Falling short

So, given that GST collections have on an average fallen short by ₹18,000 crore a month, it’s fair to assume that the Centre cannot afford to further reduce its indirect tax collections by cutting excise duties on something as remunerative as fuel.
Meeting the fiscal deficit targets would become all the more difficult if the Centre commits to such a revenue loss. It did try recently to mitigate the GST under-performance, but only managed partial success. In Budget 2018, it reduced the excise duty on fuel by ₹8 per litre, but introduced an equal road cess, leaving retail prices unchanged. However, the difference here is key. While taxes such as excise duties have to be shared with States — 42% goes to the States, to be exact — cesses can stay entirely with the Centre.
With such a move, the Centre saved ₹8,500 crore a month that would otherwise have been shared with the States. But this still isn’t enough to bring it to pre-GST collections. Rather, the State governments can swoop in and save the day for consumers. According to the PPAC, State governments together collected ₹1,66,378 crore as sales tax/VAT on petroleum products. The rates of these taxes can be as high as 39.78% in Mumbai and 36.06% in Andhra Pradesh.
Given that the States cannot complain about any revenue lost due to GST since the Centre has promised to make up for any shortfall for five years, they are the ones that can take a revenue hit to benefit the consumers.

No secret formula, just hard work reason for success: CBSE Class 12 topper Meghna Srivastava

NEW DELHI: Meghna Srivastava, who has topped the CBSE Class 12 examination, on Saturday said there was no secret formula for her success and it was only consistent hard work that had paid off.

Srivastava hails from Noida and studied at the Step By Step School there.

ALSO READ: CBSE class 12 results announced, topper scores 499/500

She secured 99 marks in English (Core), while in the other subjects - Psychology, History, Geography and Economics - she scored a perfect 100.

"It's been a really thrilling experience. There is no secret and one has to work hard throughout the year," she told reporters.

Srivastava is the niece of former CBI director Anil Sinha, who said that she has always been a bright student.

"She has always been a very bright and studious girl. She has brought laurels to our family and we are proud of her," Sinha said.

Anoushka Chandra, who stood second in the exam with 99.6 per cent, thanked her parents and her school principal for her success.

Chandra, who is a student of the Seth Anandram Jaipuria School in Ghaziabad, scored 98 in English (Core) and 100 in History, Economics, Political science and Psychology.

"I am very happy. It's an overwhelming moment. I want to thank my parents and school," she told reporters.

The CBSE Class 12 Board results were announced today. The overall pass percentage was 83.01 per cent as against last year's 82.02 per cent.

Narendra Modi gives full marks to NDA government, calls Opposition unity drama to save corrupt leaders

Prime Minister Narendra Modi on Saturday gave a thumbs up to his government in a speech meant to celebrate the completion of four years of the NDA government at the Centre.
Claiming that the NDA government is on a correct path, he said that the BJP is in power in 20 states, which shows that the people have endorsed NDA's performance in the last four years. He said that the NDA government is committed to fight corruption. "Today, things have begun to change in India. Our India is steadily moving forward, from kala dhan to Jandhan, from stagnancy to progress," he said, outlining the four years of NDA's governance.
Speaking in Odisha's Cuttack, the prime minister hit out at the much touted Opposition unity, the Congress party, Odisha government and the Nehru-Gandhi family, while at the same time recounted his government's achievements in a multi-pronged speech.
Opposition unity a sham, arch enemies uniting to save themselves
Modi attacked the Opposition unity, saying the corrupt leaders were coming together "not to save the country but to save themselves", making an apparent attack on Congress President Rahul Gandhi and his mother Sonia Gandhi's bid to bring together a Bihar-style Mahagathbandhan of all regional and non-NDA parties.
"Due to the committment of this government against the black money and corruption, those people who are out on bail in the Rs 5,000 corruption case and many others also involved in corruption cases have come together on the same platform," Modi said.
He was apparently referring to Gandhis taking bail in the National Herald case and Opposition leaders coming together in Bengaluru during the Karnataka Chief Minister HD Kumaraswamy's swearing-in ceremony.
"As we promised four years ago about zero tolerance towards corruption, four former Chief Ministers are behind the bars," Modi said. "It was not only impossible, but unimaginable to touch the high and mighty during the previous governments," he added.
"The way in which our government is committed against corruption, this has made the enemies good friends," he said. "The people of the country are watching them." "These leaders have not come together for the country but they have come together to save themselves and their families."
He alleged that the opposition leaders want to destabilise the current government. "But people know everything," Modi said.
NDA committed to anti-corruption
The prime minister also said that this is a committed government instead of the confused government. He also said that in the last four years, the investigating agencies have carried out searches at over 3,000 locations and unearthed over Rs 53,000 crore of the undisclosed money.
"It was the committment of the government that passed the Benami Properties Bill, instead of the confused government which delayed it for over 30 years," he added.
In the last year, the central agencies have conducted 3,000 raids and discovered over 35,000 crore worth of undisclosed income. The government has created special CBI teams to probe corruption and benami properties.
He said that the unwavering commintment to probe cases of corruption have brought together many unlikely allies. "And the nation knows all this, the people can understand their conspiracy," Modi said. He claimed that his government has actually reduced the number of companies swindling money in India. "Central agencies have discovered many fake companies and our government has canceled the registration of 22,6000 bogus companies," Modi claimed.
Attack on Congress, Nehru-Gandhi family 
The prime minister, without taking any names, made subtle references to Congress president and his mother throughout his speech. While pointing out his government's achievements, Modi said that it is important to remember how much the one family, which ruled India for 48 years, cared for India.
"It is important to remember how a party which bows down before one family, was only intent on grabbing power." He urged the people to remember how until four years ago the many corruption scandals were a matter of shame for India and Indians abroad.
"We must all remember the remote control prime minister and the decisions taken outside Parliament and Cabinet ministries." He also added that these people had maligned the image of India.
Coming down heavily on the Nehru-Gandhi family, Modi said that the family did not do anything for the poor and the basic amenities and growth were stuck at a mere 50 percent. "Half the population was bereft of an electric connection, proper roads, bank accounts, and even basic infrastructure," Modi claimed. He then asked the people who they thought were the marginalised 50 percent people. "The poor, the adivasis, and farmers of the country," Modi answered.
He said that it was the vote bank politics of the dynast party that has kept these people backward. He claimed that the governments used to calculate the most influential voter banks ahead of drafting policies and worked only for them. "They never could have imagined about sabka sath, sabka vikas. They used to announce schemes and forget about it. They never even included Northeast India in the nation's growth plan," Modi said.
"Atkane, latkane, bhatkane wali karya sanskriti se sath aisa haal tha ki ek shatabdi ke baad bhi aam aadmi in mulbhut suvidhaon ka bhugtan nahi kar sakta tha. (Governments that are hesitant, mislead people, and like to keep projects in limbo had spoilt the work culture in our country such that the people wouldn't have gotten basic amenities even after 100 years of Independence.)"
Modi calls NDA a govt of the poor, highlights humble background of leaders
The prime minister's speech was also rich on promises to poor. In a bid to reach out to the masses, Modi said, "The people sitting in this government have reached here after living through poverty. That is why, even the sweat of poor is pious for us. And that is why they make it their prime responsibility to serve the poor."
He said that the president, vice-president and the prime servant (Narendra Modi) all of them are from such a background that they value every pence.
He said that on one hand some people have been fed with a single and golden spoon, but people in NDA have not even seen a spoon in their childhood.
"We have seen the days of poverty. And we were not born with silver spoon. In fact we did not see the spoon in our initial days," Modi said, in an apparent jibe at Rahul.
10 out of 10 to NDA government
Modi said that it is because of their outreach programs and various welfare schemes that the NDA has been able to form government in 20 states with the people’s blessings. He said that the NDA has now truly become a large party from Panchayat to Parliament.
Modi also claimed that the victories of NDA government aren't a win for any particular leader or party, "but it is the blessing of those mothers who have been uplifted from a life of chocking on smoke through the Ujjwala Yojna." He said his victories are the "smile of the beneficiaries of Beti Bachao Beti Padhao scheme and the prayers of farmers who got the fruits of Kisan Bima Yojna."
He said that the way his government is working has increased the prestige of India manifold across the world. Commending his government's commitment, he said "we are neither hesitant in taking strong decisions, nor are we scared of making bold strides."
Pointing out key legislation enacted by his government, Modi said that this is what happens when there is a government that works with commitment.
In an apparent attack at the previous UPA government, he compared his 'commitment-oriented' government to a 'confused' government run on remote control.
He said that it was due to his committed government that they have managed to limit the fiscal deficit. On the other hand, a confused government cannot free India from corruption or bring in tough laws.
Highlighting his government's welfare schemes Modi claimed:
- that 10 crore new LPG connections were given to rural households under Ujjwala Yojna
- that 60 crore LED bulbs were distributed which has directly reduced the electricity bills by Rs 40,000 crore
- that his government distributed over 13 lakh soil health cards to farmers
- that his dream to electrify every rural household is nearing fulfilment
- that the number of Naxalism-hit districts has come down from 126 to 90.
- that 25 crore Jandhan accounts have been opened.
Modi also claimed that the government is undertaking a special project to take development to even the remotest islands of India. He said the first phase of the scheme covering 16 islands under the Andaman and Nicobar island group and 10 islands under the Lakshadweep islands has already started. He urged the people to remember the time before 2014 and asked them to continue working for journey for a new India.

JEE Main Result 2018: Suraj Krishna of Andhra Pradesh tops JEE Paper I exam

NEW DELHI: Suraj Krishna Bhogi from Andhra Pradesh topped the Joint Entrance Examination – Main (JEE Main) Paper I, the result of which was declared by the Central Board of Seconday Examination (CBSE), on Monday, April 30 2018.

Another student from Andhra Pradesh, KVR Hemant Kumar Chodipilli, grabbed second All India Rank (AIR) while Parth Laturia from Rajashtan, with 350 marks, secured third rank.

"I was confident of my performance when the answer keys were out, but had not expected to bag the top rank," Krishna told PTI over phone from Vijaywada, adding that he wants to join IIT Bombay.

This year, around 10,43,739 candidates appeared for JEE Main 2018 examination. A total of 1,80, 331 boys cleared the exam, with 50,693 girls qualifying for the next stage.

"The JEE question papers are prepared in original by over 100 item writers. These item writers are subject experts. They prepare over 1,500 items over a period of two months during the year of the exam.

"All these questions are prepared by the item writers in original and they are handwritten. After that, 90 questions are drawn randomly and 8-9 sets are created. Anyone set is randomly picked for use in JEE," a senior board official said.

The results for Paper II are expected to be released on Tuesday, May 1, 2018.

The JEE Main 2018 result was made live by the CBSE on its official website - cbseresults.nic.in around 6:30 pm today.

As per the JEE Main 2018 results, as many as 2,31,024 candidates have qualified for appearing in JEE Advanced 2018. Till 2017, only 2,20,000 candidates were eligible to take JEE Advanced. The JEE Advanced 2018 examination is conducted for admission to IITs.

The exam for JEE Advanced 2018 will be held on May 20, 2018 for that the registration process will start from May 2, 2018.

CBSE JEE Main Paper I Result 2018 direct link

Max Marks
Min Marks
Common Rank List


Suraj Krishna BhogiAndhra Pradesh3501
KVR Hemant Kumar ChodipilliAndhra Pradesh3502
Parth LaturiaRajasthan3503
Pranav GoyalHaryana3504
Gattu MytrayaTelangana3505
Pawan GoyalRajasthan3506
Bhaskar Arun GuptaRajasthan3457
Bakarapu BharathAndhra Pradesh3458
Simranpreet Singh SalujaDelhi3459
Gosula Vinayaka SrivardhanTelangana34110


JEE Main Paper I Result 2018: Top 20 includes


The JEE Main exam offline mode was conducted on April 8 while the exams for online mode were conducted on April 15 and 16, 2018.

The test was conducted in 112 cities across the country. The offline exam was held in 104 cities across 1,613 centres across the country and in eight centres in as many countries abroad.

This year, the CBSE board is not giving any weight to class 12 board exam marks but will rank qualifying students on the basis of their JEE Main 2018 score.

However, candidates have to show the class 12th (regular/improvement) marksheet with 75 per cent marks at the reporting centres at the time of counselling/admission in IITs/NITs/IIITs and other centrally funded technical institutions.

The JEE Main Exam is conducted every year for admission to various engineering and architecture courses in National Institutes of Technology (NITs), Indian Institutes of Technology (IITs) and other Centrally Funded Technical Institutes (CFTIs) across the country. The exam is also an entrance examination for JEE Advanced. This year, JEE Advanced exam will be conducted by IIT Kanpur on May 20, 2018, in fully computer based test mode.

Here's how to check the JEE Main Examination result 2018

1) Go to the official websites of JEE Main - jeemain.nic.in or Results website of CBSE - cbseresults.nic.in or results.nic.in

2) On homepage, you will find link for JEE Main Exam Results 2018, click on it

3) You will be redirected to results page

4) Enter your JEE Main registration number / roll number, name and date of birth. Click on submit

5) Your JEE Main result will be displayed online on the screen of your computer/mobile

6) Download and take a printout of your JEE Main result for future reference