Recently it has been reported that the annual crude oil import bill is Rs 16 lakh crore. To bring to light its value, it might be evaluated by its relativity to the collection of GST revenues in India. Every month between Rs. 1.4 to Rs. 1.5 lakh crore is collected by way of GST. This means that almost the entire amount of Rs. 16.8 to Rs. 18 lakh crore collected in India through GST is being spent on the import of crude oil at present crude oil rates per barrel. Besides, it may be stressed that the fractional distillation of crude gives us products such as LPG, petrol, diesel and aviation turbine fuel which all result through their use the emission of greenhouse gases which for transportation itself is estimated to lead to 40% of greenhouse emissions in the entire country. It would be in the fitness of things that curtailing of the use of petroleum products be introduced and this could be done by reducing import of crude oil through introduction of on an urgent basis electrical vehicles to the greatest extent possible commensurate with production abilities in India of electrical vehicles which should fast replace petrol and diesel vehicles use. Even hydrogen fuel cells vehicles development can be used by introducing the clean hydrogen fuel.
