13. Growth of Oil and Gas Industry in India Total Oil production has been increasing over the last 30 years.
14. Growth of Oil and Gas Industry in India (Contd.) Total Oil Consumption has also been increasing linearly over the last 30 years.
15. Growth of Oil and Gas Industry in India (Contd.) Total Natural Gas production has been increasing over the last 30 years. In last few years there has been a quantum jump.
16. Growth of Oil and Gas Industry in India (Contd.) Total Natural gas consumption has also been increasing over the last 30 years.
45. Petroleum Product Pricing Taxation comparisons In April 2002 India abolished the Administrative Pricing Mechanism (APM) controlling the domestic price of petroleum products in India. Under the APM, product prices were directly administered by India ’s Central Government based on an opaque and complex cost of operating capital plus formula.
46. Effect of Taxation and Subsidies: A Comparison The effect of lower product prices than input prices - a large effective subsidy has been the increasing accumulation of under-recoveries by OMCs. Under-Recoveries represent the difference between the trade-parity cost of Refined product paid by OMCs and their realised change frequently depending on a number of factors.
47. Taxes paid by Oil and Gas Industry over the years (Rs. Billion) 2006 2007 2008 2009 2010 Royalty from Crude Oil 50.67 58.57 65.44 71.55 NA Royalty from Gas 8.637 10.75 14.87 16.24 NA Oil Development Cess 51.96 71.77 71.56 68.86 65.59 Excise and Customs Duties 631.43 718.93 783.73 705.57 717.67 Sales Tax 459.34 539.49 564.45 633.49 649.99
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