These are taxing times indeed; especially for the middle-class.
Indians were slapped with multiple price hikes in the last 24 hours due to which, numerous things have gotten expensive as a direct or indirect result of it.
1.) Petrol price hiked by Rs 2.58 a litre and diesel by Rs 2.26 per litre
Petrol will cost Rs 65.60 per litre in Delhi after the increase while diesel will cost Rs 53.93/litre.
2.) Price of non-subsidised cooking gas raised by Rs 21 per cylinder
Consumers buy non-subsidised LPG after exhausting their quota of 12. Non-subsidised LPG now costs Rs 548.50 in Delhi. The hike comes on the back of a Rs 18 per cylinder increase in price on May 1.
3.) Aviation turbine fuel or jet fuel price hiked by a steep 9.2 per cent
Jet fuel constitutes over 40 per cent of an airline's operating cost and the latest price increase will add to the financial burden of cash-strapped carriers
4.) Service tax now at 15%
The service tax which was 14% earlier, will now be 15% with the introduction of the Krishi Kalyan cess of 0.5% which was announced in this year’s budget in order to build rural infrastructure in India. The additional 0.5% will be the Swacch Bharat Cess.
This hike will directly affect the following services, as reported by Live Mint.
You must be feeling something like this right?
We Indians are facing double whammy today:Petroleum Price hike & service tax hike!Not just middle-class, poor too would be affected badly— Amit Srivastava (@AmiSri) June 1, 2016
Petrol/Diesel price hike by abt 2rs.Wow what a 2nd year gift to people of INDIA by Modiji and BJP led Govt of India. https://t.co/Xz9NVk41W3— Suraj Hegde (@SurajMNHegde) May 31, 2016