It collected Rs 51,922 crore (Rs 519.22 billion) in excise duties on petroleum products like petrol and diesel and provided a meagre Rs 2,523.76 crore (Rs 25.23 billion) for subsidising common man's cooking fuel LPG and kerosene and another Rs 24,121 crore (Rs 241.21 billion) in oil bonds for keeping fuel prices lower than cost.

Oil bonds do not entail an immediate cash outgo and are deferred liabilities.

In a written reply to a question in Rajya Sabha, Petroleum Minister Murli Deora said the Centre collected Rs 10,043 crore (Rs 100.43 billion) in customs duty on crude and oil products, Rs 6,899 crore (Rs 68.99 billion) through cess on domestic crude oil, Rs 2,794 crore (Rs 27.94 billion) in royalties, Rs 12,153 crore (Rs 121.53 billion) in corporate tax and Rs 7,963 crore (Rs 79.63 billion) in dividends from public sector oil companies.

After including tax on dividend and other duties like service tax, the Centre's total take from oil companies in 2006-07 was Rs 93,802 crore (Rs 938.02 billion). Besides, state governments got Rs 62,121 crore (Rs 621.21 billion) mostly in sales tax (Rs 56,115 crore).

With Central and state revenues are slated to increase this year, the Petroleum Ministry has been pressing for a reduction in excise duty to soften the impact of international crude oil prices that had reached an all time high of $99 a barrel last month.

Deora said the Centre collected Rs 77,692 crore (Rs 776.92 billion) in taxes and duties in 2004-05 and Rs 83,314 crore in 2005-06. States got Rs 43,254 crore (Rs 432.54 billion) in 2004-05 and Rs 52,253 crore (Rs 522.53 billion) in 2005-06.