Petrol price in Delhi to get cheaper by Rs 8 per litre as govt slashes VAT to 19.40%
The decision was taken in a meeting of the Delhi cabinet chaired by Chief Minister Arvind Kejriwal on Wednesday
The Delhi government on Wednesday decided to reduce the Value-Added Tax (VAT) on petrol, bringing down the price of the fuel in the city by about Rs 8 per litre. The decision was taken in a meeting of the Delhi cabinet chaired by Chief Minister Arvind Kejriwal on Wednesday. With this, the petrol price is all set to reduce in the national capital. The new rates would be effective from midnight today.
At a cabinet meeting chaired by Kejriwal, it was decided that the VAT on petrol will be reduced from the present 30 percent to 19.4 percent, leading to a cut of around Rs 8 per litre, officials said.
The price of petrol after the VAT cut will go down from the current Rs 103 per litre to Rs 95 per litre, sources told PTI.
The petrol price in Delhi was higher as compared to the NCR cities in Uttar Pradesh and Haryana, where the state governments had announced a VAT cut following the Centre reducing the excise duty on fuel prices.
To control the rising fuel prices in the country, the Centre had on the eve of Diwali, announced excise duty cut on fuels resulting in a sharp decrease in petrol and diesel prices across the country. The government had cut the price of petrol by Rs 5 and that of diesel by Rs 10. Following this decision, several states, mostly ruled by National Democratic Alliance (NDA) and allies have also cut the Value Added Tax (VAT) on petrol and diesel prices.
Meanwhile, fuel prices remained unchanged for the 27th consecutive day on 1 December after the Centre cut the excise duty to bring down retail rates from record highs.
With inputs from PTI
Low on food, high on nukes: Why is bankrupt Pakistan focused on its nuclear programme amid worst crisis?
Pakistan is facing its worst economic crisis. There's a shortage of food and medicines and Islamabad is struggling to acquire a much-needed IMF bailout. Amid its many woes, the attention of its government remains on the country’s nuclear programme. It will not be compromised, it says
Sri Lanka slashes fuel prices in welcome relief amid crisis
Sri Lanka’s government on Wednesday announced significant cuts in fuel prices, providing welcome relief for many after a year of shortages and skyrocketing prices amid the country’s worst economic crisis.
Pakistan PM Sharif says govt will provide subsidised petrol to low-income people
The programme to help the people will be implemented soon and a comprehensive strategy is being formulated on the issue