Saturday, 04 December 2021

Karnataka government slashed diesel and petrol by ₹7 per liter

Karnataka government slashed diesel and petrol by ₹7 per liter

The Karnataka government has sent out a notice to reduce the price of diesel and petrol by ₹7 per liter, following a similar reduction of ₹ ten and ₹5, respectively.

In an official release, the state government claimed that Karnataka is the first state to reduce sales tax on petrol and diesel.

Buckling under pressure, the Centre on Wednesday had cut excise duty on petrol and diesel by ₹ five and ₹10 per liter to help bring down rates from the highest-ever levels price, following which the state government had also announced its decision to cut.

Earlier today, speaking to reporters in Hubballi, Karnataka Chief Minister Basavaraj Bommai said the state government had been contemplating reducing prices ever since fuel prices crossed the ₹100 mark, which may cause an estimated loss of ₹2,100 crores to the state's exchequer.

Karnataka government slashed diesel and petrol by 7 per liter 1unsplash image

Read More: Govt reduce excise duty on petrol by Rs 5 and diesel by Rs 10

 

 

He further said.

"After the central government's decision to reduce fuel prices I spoke to the Union Finance and Home Minister and they expressed desire that the state slash the prices. I spoke to our senior officials and decided on it,"

The constant increase in fuel prices had been severely criticized by Opposition parties, particularly Congress, which had demanded that the Centre reduce its excise duty.

Apart from the BJP-ruled states, Odisha has announced a VAT reduction. At the same time, Rajasthan chief minister Ashok Gehlot said VAT imposed by the state will get reduced automatically with the Centre slashing its excise duty. "I would once again urge prime minister (Narendra Modi) to reduce excise duty so that people can get the relief from rising inflation. Our government is ready to bear the revenue loss for public welfare," Gehlot said. In Rajasthan, petrol will be cheaper by ₹6.8 per liter and diesel by 12.6 per liter.

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