Fertilizer Smuggling
Yes, you read it right. It is quite unfortunate but true. Indian mind is really smart at different ways of earning money and any guesses on how this affects us??
Have a look at the following numbers and repent paying your taxes this year:
Estimated expenditure by the government in fertilizer subsidy in last FY 08-09 : Rs. 1 lakh crore (Rs. trillion, well India doesn't seem so poor with that kind of subsidy on just one commodity!)
Initial estimated fertilizer smuggled to Nepal, Bangladesh from UP, WB and Bihar: about 10%
...this means: whopping Rs 10,000 crores (or Rs 100 million) of subsidy to neighbors from your hard earned money. ohh who cares....
By the way note that 3,14,468-crore was the direct tax collected last year. Obviously, the lost money was not small.
(this idea has picked up in the last year mainly due to jump in international urea prices. The subsidy on fertilizer bill of government in 08-09 increased to about four times of that in 07-08)
Marginally consolatory news is that CAS (Controller and Auditor General) is now looking into the matter.
Have a look at the following numbers and repent paying your taxes this year:
Estimated expenditure by the government in fertilizer subsidy in last FY 08-09 : Rs. 1 lakh crore (Rs. trillion, well India doesn't seem so poor with that kind of subsidy on just one commodity!)
Initial estimated fertilizer smuggled to Nepal, Bangladesh from UP, WB and Bihar: about 10%
...this means: whopping Rs 10,000 crores (or Rs 100 million) of subsidy to neighbors from your hard earned money. ohh who cares....
By the way note that 3,14,468-crore was the direct tax collected last year. Obviously, the lost money was not small.
(this idea has picked up in the last year mainly due to jump in international urea prices. The subsidy on fertilizer bill of government in 08-09 increased to about four times of that in 07-08)
Marginally consolatory news is that CAS (Controller and Auditor General) is now looking into the matter.
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