petrol pricing and forex
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8/13/2019 Petrol Pricing and forex
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Foreign Exchange Reserve: (RBI) March 2013: $294 Billion
Sept 2013: $275 Billion
Rapid outflow of FII No inflow of FDI
March 2013 : $1= 54.33
Today(9 oct, 2013): $1=61.89 Effects
Hike in Domestic Petrol Prices
Hike in inflation
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3Source: RBI.org.in
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Rank Country Apr-Mar 2012
Apr-
Mar 2013 %Growth %Share1 CHINA P RP 275,998.64 284,384.59 3.04 10.65
2 U ARAB EMTS 171,126.62 212,923.33 24.42 7.98
3 SAUDI ARAB 149,349.99 184,684.80 23.66 6.92
4 SWITZERLAND 155,126.43 174,511.85 12.50 6.54
5 U S A 117,293.31 137,238.59 17.00 5.14
6 IRAQ 90,651.51 104,596.36 15.38 3.92
7 KUWAIT 79,188.35 90,184.25 13.89 3.38
8 QATAR 61,895.48 85,457.78 38.07 3.209 INDONESIA 69,759.13 80,965.70 16.06 3.03
10 GERMANY 78,095.29 77,933.66 -0.21 2.92
Total 2,345,463.23 2,669,161.95 13.80 100.00
5Source: www.commerece.nic.in(ministry of commerce)
http://www.commerece.nic.in/http://www.commerece.nic.in/ -
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Rank Country Apr-Mar 2012 Apr-Mar 2013 %Growth %Share1 U ARAB EMTS 172,268.48 197,832.08 14.84 12.10
2 U S A 166,474.31 196,771.28 18.20 12.04
3 SINGAPORE 80,363.29 73,995.35 -7.92 4.53
4 CHINA P RP 87,669.37 73,772.71 -15.85 4.51
5 HONG KONG 61,877.23 66,898.17 8.11 4.09
6 NETHERLAND 43,913.77 57,380.34 30.67 3.51
7 SAUDI ARAB 27,208.20 53,244.76 95.69 3.26
TOTAL 1,465,959.38 1,634,318.83 11.48 100.00
6Source: www.commerece.nic.in(ministry of commerce)
http://www.commerece.nic.in/http://www.commerece.nic.in/ -
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Import in Cr Rs
No. Commodity Apr- Mar 12 Apr- Mar 13 % Growth %Share
1Petroleum
(Crude Oil)
743,074.88
($120 Billion)
891,870.86
($145 Billion)
20.02 33.41
2 Gold269,900.71
($ 44 Billion)
292,146.29
($ 47 Billion)8.24 10.95
3 Others ($ 216 Billion) ($ 238 Billion) 55.64%
TOTAL
2,345,463.24
($ 380 Billion)
2,669,161.95
($ 431 Billion) 13.80 100.00
7Source: www.commerece.nic.in(ministry of commerce)
http://www.commerece.nic.in/http://www.commerece.nic.in/ -
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Rank Commodity Apr-Mar 2012 Apr-Mar 2013 %Growth %Share
1 PETROLEUM267,914.83
($ 43 Billion)330,790.01
($ 53 Billion)23.47 20.24
2 GEMS & JEWELLARY 214,888.91 236,162.03 9.90 14.45
Total 1,465,959.39 1,634,318.83 11.48 100.00
8Source: www.commerece.nic.in(ministry of commerce)
Import in Cr Rs
http://www.commerece.nic.in/http://www.commerece.nic.in/ -
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1 barrel = $110,(26 sept 2013), = 110*62= 6820rs
Highest =$118 (jan-feb,2013)
Lowest= $98 (April, 2013)
$147 on 11July 2008 and then $32 in december2008
Lowest $17(Jan 1999)
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1 barrel = $110, (26 sept 2013), = 110*62= 6820rs 1 barrel contains 42 gallons of oil and 1 gallon=
3.79 liters. So 1 barrel = 159 liters of crude oil
So 1 liter of crude oil= 6820/159=42.89=43rs
Taxes:
State Tax= Rs 20/lit
Central Taxes Custom Duty= 2.5%=Rs 1.22/lit
Excise Duty= 30%= Rs 14.78/lit
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City InternationalPrice
CentralTax
StateTax
Total
Mumbai Rs 43 Rs 18.8 Rs 21.3 Rs 83.1
Delhi Rs 43 Rs 20.2 Rs 16.7 Rs 79.9
Chennai Rs 43 Rs 19.1 Rs 20.8 Rs 82.9
Kolkata Rs 43 Rs 19 Rs 20.6 Rs 82.6
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2ndlargest commodity in import
No 1 Importer in Globe
20 tonnes more than China (China is major
producer also) Gold investment in India= Rs 58,725 Cr
as of Sept 2012
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Substitute for Petrol (Crude Oil): CNG islooked as best substitute for petrol.
Subsidy on petrol is lowered, however Diesel isstill subsidized to keep prices constant and to
control inflation. Sport Bikes and luxurious cars are heavily
taxed.(Excluding transport vehicles)
High tax on Gold (2% in Jan to 15% in Sept) Trying to keep gold prices constant
Diverting gold investment into industrialsector
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THANK YOU
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