Spiraling fuel: Govt cuts excise duty on fuel prices by rs1.50, makes fuel companies cut by 1

04 Oct 2018 08:39 PM

The under pressure Narendra Modi government on Thursday reduced petrol and diesel prices by cutting excise duty by Two rupees Fifty paise per litre.



The centre has also appealed to all the states to reduce VAT by two rupees fifty paise, so that fuel becomes cheaper by Five rupees per litre.


Till date 10 BJP- ruled states have already reduced VAT. Goa’s decision awaited.

 

Union Finance Minister Arun Jaitley said the government will cut excise duty by 1 rupee 50 paise while oil marketing companies will absorb the loss of One rupee per litre.

In Goa, the petrol price rose to 79 rupees on Thursday from 77 rupees 41 paise per litre. And diesel rose to almost same, 76 rupees 93 paise per litre.

On 1st of June the price  of petrol  shot up  to 78 rupees 33 paise per litre.   On 1st of April  2018,  the price of petrol was 73 rupees 73 paise per litre, but by the  24th of April , the price had shot up to 74 rupees 67 paise.

Gas, used by everyone has been raised by 59 rupees and almost touched 900 rupees per cylinder. 

Meanwhile, BJP President Amit Shah has already spoken to the BJP-ruled states to cut VAT on petrol and diesel, to make total reduction by five rupees.

Some BJP-ruled states like Uttar Pradesh, Gujarat, Maharashtra, Chhattisgarh, Jharkhand, Tripura, Madhya Pradesh, Himachal Pradesh, Haryana, and Assam  have already announced a reduction.

But Goan authorities are waiting for instruction from Chief Minister Manohar Parrikar, who is under treatment at AIIMS in Delhi. 


Desk: Bureau



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