(a) whether revenue is earned by levying taxes and cess on petroleum products;
(b) if so, the average annual amount earned during the last three years;
(c) whether there are any arrangements to incur expenditure in the petroleum sector by setting up a fund out of this amount; and
(d) if so, the details thereof and if not, the reasons therefor?
MINISTER OF STATE IN THE MINISTRY OF PETROLEUM AND NATURAL GAS (SHRI SANTOSH KUMAR GANGWAR)
(a): Yes, Sir.
(b): The average annual amount of revenue during the last three years from 1997-98 to 1999-2000 is Rs.24,777 crore (provisional).
(c) & (d): The tax/cess proceeds are the resources for financing the expenditure as approved by the Parliament. Financing of any sector from the budget is not necessarily linked to the revenue raised from that sector.