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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.

7,099 published reviews in this topic

FACTLYEconomy & business

BJP Government sold Indian Oil Corporation to Adani Group of Industries

Publisher’s rating: FALSE

The post used a photograph of an “Indian Oil – Adani Gas” fuel station to claim that the BJP government had sold Indian Oil Corporation Limited (IOCL) to the Adani Group. The review distinguishes that joint venture’s name and activity from a sale of IOCL itself: it reports that Indian Oil-Adani Gas Private Limited (IOAGPL) is a joint venture between IOCL and Adani Gas Limited, formed to carry out city gas distribution.

FACTLYEconomy & business

State governments are collecting more tax on petrol compared to the central government

Publisher’s rating: FALSE

FACTLY examined a social-media post alleging that state governments collect more tax on petrol than the central government. It compared petrol price-build-up figures, including Indian Oil Corporation’s Delhi figures dated 1 February 2021, and reported that the central tax component exceeded the state VAT component. In Delhi, the review gives the retail price as ₹86.30 per litre, with ₹32.98 in central excise duty and ₹19.92 in state VAT. The review also says state VAT is not uniform: states use different rates and may impose other charges. It reports that its comparisons of price build-ups for other states likewise showed more tax reaching the central exchequer than the state exchequer. On that evidence, the post’s broad comparison did not hold up; the Delhi figures also directly contradicted its suggestion that the state charge was nearly double the central tax. The review adds an important distinction about how central fuel-tax receipts are shared. It says central excise includes several duties and cesses, and that cess revenue is earmarked rather than distributed among states; states receive a share of central excise duty, but the review describes that per-litre component as much smaller than the state VAT and central excise amounts. Thus, the comparison concerns the amounts collected through the listed petrol-price components, not simply the eventual distribution of all central receipts.

FACTLYEconomy & business

Video of LIC trade unions protesting the Government’s decision to launch the IPO of LIC

Publisher’s rating: MISLEADING

The claim concerns a video of LIC trade-union members protesting the government’s decision to launch an IPO of LIC. The review identifies the footage as an earlier protest over a different government decision: partial disinvestment of LIC announced in the 2020 Union Budget. It says the protest shown took place at an LIC branch in Jaipur, rather than being footage of protests against the later IPO decision. [S1: “This video shows LIC employees protesting the Government’s decision of partial disinvestment in the 2020 Union Budget. This protest took place at a LIC Branch in Jaipur.”] To check the video’s provenance, the investigators used reverse image searches of screenshots and found similar visuals posted on social media during February 2020. They also located a better-quality YouTube version, whose visible association banner names the LIC Employees Welfare Association in Jaipur; the review says the video was uploaded on 04 February 2020. [S1: “On reverse image search of screenshots in the video, we found similar visuals in the videos posted on social media during February 2020.”] [S1: “On observing carefully, we could see ‘All India Scheduled Castes, Scheduled Tribes & Buddhists LIC Employees Welfare Association-Jaipur’ banner in the video. This confirms the protest in the video was conducted by the LIC employees in Jaipur. This video was uploaded to YouTube on 04 February 2020.”] The review further reports that the location was LIC of India Branch Unit-3 in Jaipur and connects the footage to nationwide union protests against partial disinvestment on 04 February 2020. It distinguishes those events from protests that began after the 2021 Union Budget announcement of an LIC IPO. Thus, the video is real protest footage, but it is presented as showing a protest against the IPO when the review identifies it as footage from the earlier disinvestment protest. [S1: “we found that the protest in the video took place at LIC of India Branch Unit-3 in Jaipur.”] [S1: “During the 2021 Union Budget, Finance Minister Nirmala Sitaraman announced that the government will launch the IPO of LIC. Following this, LIC employees across the nation began protests.”]

فکت‌نامهEconomy & business

اقتصاد، معیشت و توسعه پهن‌باند

Publisher’s rating: به عبارتی ادعای آذری جهرمی که گفته بود پهنای باند ارتباط مستقیمی با معیشت مردم دارد درست است اگر با دسترسی کاربران به اینترنت و بازارهای جهانی با فیلترینگ و اینترنت ملی و تحریم‌ها محدود نشده باشد. در غیر این صورت، منفعت اقتصادی بهبود زیر ساخت‌های دیجیتال، عاید جریان‌های وابسته به قدرت می‌شود تا مردم.