Effective 1st April, the price of Compressed Natural Gas (CNG) will reduce to ₹79 per kg from ₹93 per kg, giving a much-needed boost to the gas-based economy.
“The reduction of VAT to 5% from 24.5% is an exemplary step that paves the way for the State to chart out a whole new path of sustainable development and herald a new age of natural gas-driven industrial growth,” said Abhilesh Gupta, managing director and chief executive officer of AG&P Pratham, a natural gas supplier operating across undivided Kadapa, Anantapur, Chittoor and Nellore districts.
The company has announced that it will pass on the entire benefit of tax reduction to the end users, which will also encourage more people to use the CNG, significantly decreasing pollution.