Several Bharatiya Janata Party-ruled states on Wednesday announced a cut in the value added tax on fuel after the Centre slashed excise dut...
Several Bharatiya Janata Party-ruled states on Wednesday announced a cut in the value added tax on fuel after the Centre slashed excise duty on petrol and diesel.
A day before Diwali, the Union government announced that petrol would become cheaper by Rs 5 and diesel by Rs 10 from Thursday.
BJP-ruled states followed suit and announced tax cuts on fuel. Assam, Goa, Tripura, Manipur, Karnataka and Gujarat announced a Rs 7 cut in value added tax on both petrol and diesel.
The Uttarakhand government also announced that petrol in the state would become cheaper by Rs 7. Uttar Pradesh has reduced the prices of petrol and diesel by Rs 12 per litre, ANI reported, quoting Chief Minister Adityanath’s office.
Bihar, which is ruled by BJP’s ally Janata Dal (United), announced that it would reduce value added tax on petrol and diesel by Rs 1.30 and 1.90 Rs.
Fuel prices have increased sharply across the country in the past few months. The price of one litre of petrol has crossed Rs 100 in most big cities in India. Diesel has breached the Rs 100-mark in more than 18 states and Union Territories.
Oil companies revise the fuel prices on the basis of the cost of benchmark fuel in the international market and foreign exchange rates. Across states, the...
