India is 12th in the rank of gas producing countries. The Total gas reserves in KG basin is estimated at 35.5 trillion cubic feet.
Feb 1999: A consortium led by Reliance Industries (RIL) wins an exploration block in the KGD6 basin, in a global auction. March 2000: Contractor renamed Global Fuel Management Services, and then Reliance Natural Resources (RNRL). April 2000: RIL and the government execute production sharing
September 2003-May 2004: RIL submits bids for supply of gas to NTPC.
April 2004: Production sharing contract executed.
June 2004: RIL signs pact with Uttar Pradesh for world’s largest gas-based power plant at Dadri.
June-July 2004: NTPC issues letter of intent to RIL.
THE RIL is having all its offices and infrastructure in YENAM. Why Pondicherry Government had failed to obtain its share in the gas and why it failed to set up a power plant through NTPC and pass the power by national grid to Pondicherry, is a question without answer.
The Radia tapes which appeared in Open magazine records for getting permission and for getting gas RIL had spent 1000 crores. In the Supreme Court 3 Judge panel headed by then Chief Justice KG Balakrishnan, Justice P.Sathasivam, and Justice B.Sudharsan Reddy have stated “ Government is the owner of natural resources including gas available in the country, no individual or commercial entity could claim right over such resources”
The royalty under Production sharing contract is US $ 4.20 per million british thermal unit mmBtu. In KG basin D6 block for five years. IF THIS royalty had been fixed in comparison with other countries, that revenue could have reduced the burden on consumers.
The Basic Price for Petrol : 28.93
Excise duty : 14.35
Education Tax : 0.43
Dealer Commission : 1.05
VAT : 5.5
Crude Oil custom duty : 1.54
Transportation : 6.00 THUS PER LITRE PRICE comes to 58.90 petrol
In 2008 Malaysia sold petrol per litre for Rs 30.12 but in 2010 they have reduced to 20.99
In 2008 Pakisthan prices were 36.09 per litre brought down to Rs 31.43 in 2010.
Those Governments have political will. Indian Finance Minister Pranab Mukerjee turns blind eye in fixing royalties for Natural Gas, Iron Ore and Minerals, and 2G spectrum licenses, where he favours the corporate democracy, instead taxes the consumers who suffer in a non existent peoples democracy.
Further the when every time the prices of petrol is hiked almost all political parties do protest, but they fail to note that Indian consumer is robbed every time petrol price gets hiked, over and above the hiked price.
This time Bharat Petroleum Corporation Limited had hiked the price of petrol by Rs 2.96 per litre. Indian Oil Corporation, Hindustan Petroleum Corporation etc are going to follow this.
Can anyone buy one litre and pay Rs.2.96 ? Is there 5 paise one nayapaise coins in circulation. Even 10 paise coin is out of circulation. So naturally consumer had to pay Rs 3.00 instead of hiked Rs 2.96. Where does the balance 4 paise goes ? If you calculate the litres sold in a day throughout the country and multiply it with 4 paise you will get a figure to compete with 2G losses.
Finance Minister Pranab Mukerjee nor the Petroleum Minister Murle Deora have ever thought about this loot. The Corporations too are happy as if they are reducing 4 paise burden from the consumers shoulders..
Dravida Peravai demand CAG audit into the losses incurred by Indian consumers. RTI activists must question these Corporations.
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