Read on Twitter
Fuel Dynamics: Is India really bad on fuel price?
Taxes on Retail Fuel Price
India - 69%
France - 64%
Germany - 64%
Britain - 62%
Spain - 53%
Japan - 47%
China - 38%
Canada - 33%
Taxes on Retail Fuel Price
India - 69% France - 64% Germany - 64% Britain - 62% Spain - 53% Japan - 47% China - 38% Canada - 33%
Crude Oil Import as a % on Overall consumption
Spain - 100%
Germany - 97%
India - 80%
Japan - 78%
France - 64%
China - 60%
Canada - 56%
Britain - 11%
Spain - 100% Germany - 97% India - 80% Japan - 78% France - 64% China - 60% Canada - 56% Britain - 11%
Total Oil Consumption in bbl/day
China - 14,056,000
India - 5,271,000
Japan - 3,812,000
Germany - 2,281,000
Canada - 2,403,000
France - 1,530,000
Spain - 1,226,000
Britain - 1,118,000
China - 14,056,000 India - 5,271,000 Japan - 3,812,000 Germany - 2,281,000 Canada - 2,403,000 France - 1,530,000 Spain - 1,226,000 Britain - 1,118,000
Total Registered Motor Vehicles in Millions
India - 330
China - 240
Japan - 78
Germany - 66
Canada - 38
Britain - 38
France - 34
Spain - 25
India - 330 China - 240 Japan - 78 Germany - 66 Canada - 38 Britain - 38 France - 34 Spain - 25
Maximum Income tax rates across the world
Japan - 55%
Spain - 52%
Britain - 45%
China - 45%
France - 45%
Germany - 42%
Canada - 32%
India - 30%
Japan - 55% Spain - 52% Britain - 45% China - 45% France - 45% Germany - 42% Canada - 32% India - 30%
Working population in overall population
China - 72%
Canada - 54%
Japan - 54%
Germany - 52%
France - 42%
Spain - 42%
Britain - 40%
India - 30%
China - 72% Canada - 54% Japan - 54% Germany - 52% France - 42% Spain - 42% Britain - 40% India - 30%
Income tax payers in overall population
Canada - 48%
Japan - 40%
Germany - 40%
France - 36%
Spain - 27%
Britain - 5%
China - 3%
India - 2.5%
Canada - 48% Japan - 40% Germany - 40% France - 36% Spain - 27% Britain - 5% China - 3% India - 2.5%
Retail price of Fuel in USD per Litre
France - $1.51
Germany - $1.46
Britain - $1.36
Spain - $1.29
China- $1.22
Japan - $1.18
India - $1.1
Canada - $0.89
France - $1.51 Germany - $1.46 Britain - $1.36 Spain - $1.29 China- $1.22 Japan - $1.18 India - $1.1 Canada - $0.89
Final Inferences:
Japan, China & Canada have the least Taxes on Fuel
China, Canada & Britain import the least oil on their overall consumption
France, Spain & Britain consume the least oil per day
France, Spain & Britain have the least registered motor vehicles
Japan, China & Canada have the least Taxes on Fuel China, Canada & Britain import the least oil on their overall consumption France, Spain & Britain consume the least oil per day France, Spain & Britain have the least registered motor vehicles
Germany, Canada & India have the lowest income tax rates. Spain, Britain & India have the least working population on overall population Britain, China & India has the least income tax paying population Despite these
Japan, Canada & India have the least fuel price
When India improves on Bringing more people in income tax bracket, Direct taxes improve and the need for indirect taxes will gradually reduce. India is already working on transition to Methanol economy since 2016 https://twitter.com/ikkmurugan/status/1329386507816243202
Despite high Duties, less proportion of direct tax and importing more than 80% and consuming high, India has done reasonably well in containing the fuel price.
