Maharashtra cuts petrol, diesel rates

Story by  ATV | Posted by  Nakul Shivani • 1 Years ago
People queue up outside a petrol pump
People queue up outside a petrol pump

 

Mumbai

The Maharashtra government has reduced the Value Added Tax (VAT) on petrol and diesel by Rupees 5 and 3 respectively, bringing relief to consumers in the state.

This would entail a burden of Rs 6,000 crore on the state exchequer but will lead to reducing inflation, Chief Minister Eknath Shinde announced after a cabinet meeting.

Deputy Chief Minister Devendra Fadnavis said the move to cut petrol-diesel rates was in tune with the new government's commitment to public welfare and would directly benefit the masses.

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The new state government has followed states like Uttar Pradesh which had earlier announced a reduction in petrol and diesel prices after the central government had cut excise duty on them in May.