Rs.120,000 Crores of direct taxes are uncollected. Rs.150,000 Crores of loans taken by the rich Indians are uncollected.
all these would be sufficient to cover the subsidies for the public sector oil companies.
Private sector oil companies should be nationalised and their past profits should be confiscated for the public.
The Government earned a fortune from the OIL Pool when the price of oil was low and from the Customs&Excise duties on oil( which is half of the retail price), but it gave these away to the big corporations as tax concessions.
