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Correspondent

21 August 2024 at 10:20:16 am

Fuel Shock

The latest increase in petrol and diesel prices — the fourth hike in just 11 days — underlines how vulnerable India remains to geopolitical turmoil and its own unfinished reforms in the energy sector. Brent crude surged again after fresh American military strikes in southern Iran deepened fears of the renewal of the Iran conflict on a higher scale. Markets are now gripped by uncertainty as hopes of a negotiated settlement continue to fade. For a country like India, which imports more than 80...

Fuel Shock

The latest increase in petrol and diesel prices — the fourth hike in just 11 days — underlines how vulnerable India remains to geopolitical turmoil and its own unfinished reforms in the energy sector. Brent crude surged again after fresh American military strikes in southern Iran deepened fears of the renewal of the Iran conflict on a higher scale. Markets are now gripped by uncertainty as hopes of a negotiated settlement continue to fade. For a country like India, which imports more than 80 percent of its crude oil requirements, every geopolitical tremor in the Gulf quickly translates into pain at the fuel pump. Since May 15, petrol and diesel prices have risen cumulatively by nearly Rs. 7.5 per litre. In Hyderabad and Thiruvananthapuram, petrol has crossed Rs. 115 a litre. Mumbai, Kolkata, Bengaluru and Chennai are all witnessing sharp increases. Even Delhi, traditionally cushioned by relatively lower taxes, has seen petrol move beyond Rs. 102 per litre. This marks a significant shift after nearly four years of relative stability in retail fuel prices. For long periods, state-run oil marketing companies absorbed the burden of elevated crude prices, shrinking refining margins and a weakening rupee. Political considerations, particularly around elections, often delayed price revisions. The Rs. 2 per litre reduction announced ahead of the 2024 national elections was a reminder that fuel pricing in India has never been entirely divorced from politics. But oil companies cannot indefinitely absorb mounting losses, especially when global crude prices remain elevated. The Centre has already cut excise duties, with Finance Minister Nirmala Sitharaman estimating the revenue sacrifice at nearly Rs. 1 lakh crore. That fiscal cushion has now largely been exhausted. The spotlight is therefore shifting towards states. VAT on fuel remains one of the most lucrative revenue streams for state governments, with some states imposing levies exceeding 30 percent through taxes and cess components. This explains why states such as Telangana, Kerala and West Bengal continue to record some of the highest retail fuel prices in the country. The Centre is now subtly nudging states to reduce VAT rates to soften the blow on consumers. Yet states are reluctant. Their dependence on fuel taxes is structural, not incidental. Apart from excise on liquor, few revenue sources offer such steady and politically manageable returns. Bringing petrol and diesel under the GST framework continues to face bipartisan resistance from states fearful of losing fiscal autonomy. Rising fuel prices do not remain confined to petrol stations. They seep into every layer of the economy as transportation costs rise, food inflation accelerates and household budgets shrink. Small businesses, already coping with weak consumption and high borrowing costs, are facing renewed pressure. India’s recurring vulnerability to crude oil shocks exposes the limits of its energy security architecture. Expansion of strategic petroleum reserves and greater investment in renewable energy can no longer remain aspirational talking points. They must become urgent national priorities.

Center powered to take Aurangzeb tomb off heritage list

Updated: Mar 20, 2025

archaeological Survey

Mumbai: More than 300 years after it was built, the ‘Tomb of Aurangzeb’ is back in the limelight as a Hindi film stokes an anti-Aurangzeb mood. But can the structure, which is protected by the Archaeological Survey of India be removed at the whims of a few?


The festive cheer in Maharashtra, in the week of Holi, has been disrupted by sporadic clashes and violence. The reason — an ancient tomb where Mughal emperor Aurangzeb has been buried in Khuldabad near Chhatrapati Sambhaji Nagar. While Aurangzeb has indeed been a polarising figure in Indian history, his name is sparking communal tensions and violence in parts of the state. Elected representatives are using the hallowed halls of the state legislature to heap insult and abuse on the opponent by likening them to the Mughal, who is currently best known for his atrocities.


A drive through Chhatrapati Sambhajinagar, formerly Aurangabad, barely nudges you towards this tomb in Khuldabad, where Sufi saint Khwaja Syed Zainuddin Shirazi is also buried. Aurangzeb died in March 1707 in present-day Ahilyanagar, earlier known as Ahmednagar. His wish, according to historical records, was to have a simple tomb, a far cry from the extravagant tombs of his predecessors. But despite its unassuming presence, the tomb, almost forgotten, is in the eye of a storm. If certain right-wing outfits and politicians are out to demolish it, others are demanding its protection. But even as political leaders make high-pitched demands for razing it to the ground, the rules state that the Government of Maharashtra has no power to remove a monument which is protected by the Archaeological Survey of India (ASI).


The Ancient Monuments Preservation Act, 1904 and The Ancient Monuments and Archaeological Sites and Remains Act, 1958 (AMASR Act) protect various monuments and structures and pieces of cultural heritage. The ASI, which comes under the Union Ministry of Culture, has more than 3500 historical monuments and archaeological sites under its purview for protection across the country. This includes palaces, forts, prehistoric rock shelters, rock-cut caves, places of worship of different faiths, burial sites, bathing ghats and water reservoirs, among others.


The AMASR Act prevents construction of any sort around a protected structure in a bid to preserve its glory and avoid any damage and there are strict penalties that can be imposed for defacing or destroying any part of such structures.


A monument of structure, however, can be dropped from the list according to Section 35 of the AMASR Act which states that the Central Government has the authority to de-list a structure if it is of the opinion that “any ancient and historical monument or archaeological site and remains declared to be of national importance by or under this Act has ceased to be of national importance.” All it needs is a notification in the Official Gazette, declaring that such a structure ceases to be of national importance.


In the current scenario, de-listing the tomb will need intervention from the Centre and is outside the jurisdiction of the state government.

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