Madhya Pradesh has become the third BJP-ruled state after Gujarat and Maharashtra to reduce Value Added Tax on Petrol and Diesel.
The VAT on diesel has been reduced by 5 per cent while that on petrol by 3 per cent, said Chief Minister Shivraj Singh Chouhan as quoted in a tweet by news agency Asian News International. The decision announced by chief minister Vijay Rupani in Gandhinagar will make petrol cheaper in the state by Rs2.93 and diesel by Rs2.72 a litre from Wednesday. The central government decision to cut the excise duty on petrol and diesel came as a relief to consumers from three-month long relentless price hike. Shivraj said the farmers will get benefitted from the new prices as they use diesel in various farming purposes.
While Gujarat, Maharashtra, Himachal Pradesh and Madhya Pradesh have slashed petrol and diesel prices, the Bihar government wants the central government to lower the "base price".
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Later in the evening Himachal Pradesh, ruled by Congress, announced a 1% reduction in Value-Added Tax.
The revised rates will be applicable from Friday midnight, he said. The State Government also withdrew the additional cess of Rs 1.50 per litre on diesel. Following the slashing of the excise duty on petroleum products, Finance Minister Arun Jaitley had said the Rs 2 per litre cut in excise duty on petrol and diesel was done to give relief from relentless increase in prices and leave more money in hands of consumers. "Going by the crude oil prices in global market, the petrol price should be less than Rs 50 per litre".
The prices for Petrol and Diesel had been on the rise from June and had been climbing high since then.
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