Current AffairsIndia

Centre reduces petrol and diesel prices by Rs 2.50 per litre

New Delhi, Oct 4 (IENews) Centre reduces petrol and diesel prices by Rs 2.50 per litre across the country with immediate effect from midnight.

Union Finance Arun Jaitely speaking to media, confirmed, “The government has cut the excise duty of Rs 1.5 on petrol and diesel, while oil marketing companies would bear the cost Rs 1 a litre.”

Jaitley also said he would write to the state governments to reduce the value added tax on petroleum products by Rs 2.50 as well so that people receive a benefit of Rs 5 a litre on fuel.

“Fuel prices can be reduced by Rs 5 a litre if states cooperate. If crude price increases to 80 dollars from 65 dollars, the states get benefit of 29 per cent on the added value. It increases their revenue share while the revenue of the Centre remains stagnant. So they can reduce VAT from their increased revenue,” he added.

Show More

IENewsDesk

Indian Expose aims to bridge the gap of communication, information and most of news between print and television to make it available online to our readers 24×7, 365 days in a year.

Leave a Reply

Back to top button
Close
Close

Adblock Detected

Please consider supporting us by disabling your ad blocker
%d bloggers like this: