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PeakMetrics / Fact Checks

Economy & business fact checks

Explore claims publishers have checked about economy & business. Read their original ratings and follow the evidence.

7,096 published reviews in this topic

FACTLYEconomy & business

64% of the taxes collected on petrol go to the state governments, whereas the center retains only 36 % – Jyotiraditya Scindia

Publisher’s rating: FALSE

FACTLY examined a video post attributing to BJP MP Jyotiraditya Scindia the claim that states receive 64% of petrol taxes while the central government keeps 36%. The review says Scindia made the statement in the Rajya Sabha on 24 March 2021. Its analysis focuses on central excise duty, rather than treating every tax in a petrol purchase as a single central levy. The review breaks central excise duty into four components: Basic Excise Duty (BED), Special Additional Excise Duty (SAED), Additional Excise Duty (AED), and Agriculture & Infrastructure Development Cess (AIDC). It explains that SAED is a surcharge and that AED and AIDC are cesses, and says those three components are not in the divisible pool shared with states. Of the stated Rs. 32.90 central excise duty per litre, Rs. 31.50 is therefore retained centrally; only Rs. 1.40 in BED enters the divisible pool. Applying the 15th Finance Commission’s 41% state share to that Rs. 1.40 yields Rs. 0.57 for states and Rs. 0.83 retained by the center. On that calculation, the center receives Rs. 32.33 of the Rs. 32.90 central excise duty per litre, or 98.27%; states collectively receive Rs. 0.57, or 1.73%. The review separately illustrates how state-level taxes affect the overall split: in Telangana, it gives a 24 July 2021 Hyderabad pump price of Rs. 105.89 per litre and reports that state VAT plus Telangana’s share of central taxes amounted to Rs. 26.78. That illustration is not a 64% state share of central excise duty; it includes a state tax and uses a specific state and price example.

Vishvas NewsEconomy & business

त्यात त्यांनी एलपीजी महागल्यास, राज्य सरकार कारणीभूत असल्याचा दावा केला. त्यांनी आपल्या पोस्ट मध्ये लिहले कि केंद्र सरकार एलपीजी वर पाच टक्के टॅक्स लावते, आणि राज्य सरकार ५५ टक्के टॅक्स घेते.

Publisher’s rating: FALSE

The claim concerned a Facebook post shared by Hemendra Garg of Jaipur. It blamed state governments for rising LPG prices, asserting that the Centre charged 5% tax while states charged 55%. The review reproduces the post’s breakdown of the purported costs and charges, including its tax figures. These details match the claim being checked. [Source: S1]

FACTLYEconomy & business

Video of Himalaya Company Chairman ranting on Reliance and Patanjali

Publisher’s rating: FALSE

The post identified in the review claimed that the man criticizing Reliance and Ramdev’s products was Himalaya Company chairman. FACTLY’s investigation identifies the speaker as Bhanu Pratap Singh, a lawyer, rather than a company chairman. It also names Meraj Manal as chairman of Himalaya Global Holdings Ltd., distinguishing him from the person shown in the video. To trace the footage, the review says it used reverse image searches of screenshots and found a YouTube video with the same visuals. That video was uploaded on 25 January 2020; its title, translated in the review, refers to Bhanu Pratap Singh and the CAA. The review reports that the post’s clip begins at 4:39 in the longer video and lasts 2 minutes 20 seconds. The review places the speech at a dharna in Mustafabad, Delhi, after a Supreme Court hearing on the Citizenship Amendment Act. It says the YouTube description identifies the speaker as Bhanu Pratap Singh and concludes that the footage is from a lawyer’s speech at an anti-CAA protest, not a Himalaya chairman’s remarks.

Fact CrescendoEconomy & business

ലുലു ഹൈപ്പര്‍ മാര്‍ക്കറ്റിന്‍റെ 20-ാം വാര്‍ഷികത്തോട് അനുബന്ധിച്ചു നിങ്ങള്‍ക്ക് ഫോണ്‍ സമ്മാനമായി ലഭിച്ചു എന്ന് ഒരു സന്ദേശം ഒട്ടനവധി പേര്‍ക്ക് ഇതിനോടകം വാട്‌സാപ്പില്‍ ലഭിച്ചിട്ടുണ്ടാകും.

Publisher’s rating: FALSE

FACTLYEconomy & business

On the domestic LPG cylinders, the State Government levy a tax of 55% whereas the Central Government’s tax is just 5%

Publisher’s rating: FALSE

The claim concerns the tax on domestic LPG cylinders in India, alleging that State governments levy 55% while the Central government charges only 5%. FACTLY’s review says domestic LPG is subject to a combined 5% Goods and Services Tax (GST), split equally between the Central and State components—not a separate 55% State levy. It concludes that the claim has no basis. To check the tax rate, the review reports consulting the Central Board of Indirect Taxes and Customs (CBIC) website and the Petroleum Planning & Analysis Cell’s (PPAC) November 2020 Ready Reckoner. It also describes checking a 14.2 kg domestic-cylinder bill, which showed 2.5% CGST and 2.5% SGST. Those sources and the bill support the review’s explanation that the total GST is 5%, rather than a 55% State tax. The review also distinguishes taxes from other parts of the cylinder’s retail price. It says some market-determined price components vary between States because of factors such as location and uncompensated costs under PAHAL, but not because of taxes. It separately disputes a dealer-commission figure in the post; that is a different component of the price and does not establish the alleged State tax.