Save Oil

To reduce the oil pool deficit, the most important step is to cut consumption. I have seen many persons travelling in a car singly even for less than 1 km for purchase of vegetables etc. This can be avoided.

It would be better if petrol prices are hiked sharply (Rs 50 per litre) and diesel prices moderately. There should be no increase in the price of kerosene. A sharp increase in diesel prices are sure to affect transport and industry consequently increasing the cost of production.

All government departments, PSUs and private sector employers are paying conveyance allowance and insist that employees maintain the vehicle. Conveyance allowance should be given, but employees should be encouraged to use public transport. This will reduce the oil consumption. Conveyance allowance is taxable in the hands of assessee.