Thread by @ikkmurugan

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%

Crude Oil Import as a % on Overall consumption

🇪🇸 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

Total Registered Motor Vehicles in Millions

🇮🇳 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%

Working population in overall population

🇨🇳 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%

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

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

⚡️ 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.

Read Britain as 50% and not 5%. Typo error

⚡️ Spain*, China & India has the least income tax paying population