The central government on Saturday cut excise duty on petrol by a record Rs 8 per liter and on diesel by Rs 6 per liter to provide relief to consumers.
The Kerala government on Saturday announced a reduction in the prices of petrol and diesel by Rs 2.41 and Rs 1.36 per liter respectively, following the reduction in fuel prices by the Centre. Similarly, the Congress-led Rajasthan government has also decided to cut taxes on petrol by Rs. 2 48 per liter and Rs. 1.16 per liter on diesel.
Announcing this on Twitter, Gehlot said that the reduction in tax would result in a revenue loss of Rs. 1200 crores annually.
Announcing the cut in state tax, Kerala Finance Minister KN Balagopal said that the central government has partially reduced the heavy tax levied by it. However, he welcomed the Centre’s decision. Balagopal said in a statement, “The central government has partially reduced the heavy tax on petrol and diesel. The Kerala government welcomes the decision.” “The state government will reduce the state tax on the price of petrol and diesel by Rs 2.41 and Rs 1.36 per liter respectively,” he said.
The central government on Saturday cut excise duty on petrol by a record Rs 8 per liter and diesel by Rs 6 per liter to provide relief to consumers battling high fuel prices, which pushed inflation to a multi-year high. Have given.
Taking into account its impact on other duties, the cut in excise duty will translate into a reduction of Rs 9.5 per liter on petrol and Rs 7 per liter on diesel.
(with PTI inputs)
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