Petrol price cut! Oil became cheaper by Rs 3 per liter in this state
While petrol-diesel prices are running at their all-time high in the country, on the other hand there is no sign of reduction. It is the second thing that there has been no change in the prices of fuel oil in the country for the last 27 days. But in such a situation, to provide relief to the public, the Tamil Nadu government has decided to cut petrol prices in the state. The Government of Tamil Nadu presented its budget on Friday. Finance Minister Palanivel Thiagarajan announced the cut while presenting the budget. He said that the price of petrol is being cut by Rs 3 per liter in the state. To implement this deduction, the government will incur an expenditure of 1,160 crores in a year.
The Finance Minister said that ‘2.6 crore people use two-wheelers in the state. We have cut petrol prices by Rs 3 per liter and for this we will have a deficit of Rs 1,160 crore in a year. This was the first budget of the Dravida Munnetra Kangam (DMK) government headed by Chief Minister MK Stalin. The party formed the government in April this year with a majority.
Petrol is currently being sold at Rs 102.49 per liter in Chennai, the capital of Tamil Nadu, while diesel is being sold at Rs 94.39 per liter.
Petrol-diesel prices across the country have increased very rapidly in May-June. Petrol has become more expensive by Rs 11 and diesel by Rs 10 in an increase of two and a half months. Petrol is being sold at a price of more than Rs 100 per liter in about 19 states.
The reason for the high fuel oil prices in many states is also the high state tax of that state. VAT i.e. Value Added Tax and freight charges vary from state to state, and the final prices are decided accordingly. Rajasthan, Madhya Pradesh, Maharashtra and Andhra Pradesh levy the highest state tax in the country.
For example, if we talk about the capital Delhi, then here also petrol is Rs 101.84 per liter. It has 55 percent tax share. The central government charges excise duty of Rs 32.90 per liter. After this, VAT of Rs 22.80 is levied by the state government. At the same time, excise duty of Rs 31.80 per liter is levied on diesel, Rs 13.04 per liter VAT is levied by the rest of the state.
