December 9, 2022

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10 BJP-Ruled States Announce Additional Cuts In Fuel Rates

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Assam, Tripura, Manipur, Karnataka, Goa, Uttar Pradesh, Gujarat, Himachal Pradesh, and Uttarakhand, all BJP-ruled states, announced additional reductions in fuel rates hours after the Centre cut excise duty on petrol and diesel by 5 and 10 percent on the eve of Diwali, in an attempt to provide relief to people reeling from the impact of spiralling fuel prices. The price reductions will begin on Thursday, when the country celebrates Diwali.

After Centre reduces Excise Duty of Fuels, States have also reduces prices of Fuels

In addition to the Centre’s relief, Assam, Tripura, Manipur, Karnataka, and Goa lowered their fuel and diesel rates by Rs 7 per litre. On Wednesday, Uttarakhand Chief Minister Pushkar Singh Dhami announced that the state’s Value Added Tax (VAT) on gasoline would be decreased by 2 per litre. Chief Minister of Himachal Pradesh, stated his government would also lower the value added tax (VAT) on gasoline and diesel.

On Wednesday, Biplab Deb, the Chief Minister of Tripura, tweeted, “Following Hon’ble PM Shri @narendramodi Ji led federal government’s decision on lowering of excise duty on petrol & diesel, #Tripura govt has also agreed to decrease fuel & diesel cost by 7 starting tomorrow.”

States have long pressed the federal government to lower the VAT on gasoline and diesel. Over the previous few months, gas prices have risen. Petrol prices in certain states have surpassed 120 pence per litre. Diesel prices in three metros have surpassed 100 pence per litre.

The ruling BJP has being chastise by the opposition over rising fuel costs. On November 1, Congressman Rahul Gandhi warned of “pickpockets” and used the hashtag “tax extortion” in a tweet.

On Wednesday, the price of gasoline in Delhi was 110.04 per litre, while diesel was 98.42 per litre. Petrol was 115.85 per litre in Mumbai, while diesel was 106.62 per litre.Crude oil prices have been rising globally in recent months. As a result, domestic gasoline and diesel prices have soared in recent weeks.

The Centre said in a statement that “today’s decision is expect to significantly accelerate the broader economic cycle.”

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