Petrol prices to go up in Goa as VAT hiked to 15%

Panaji: Petrol prices are set to go up in Goa as the state government on Wednesday raised the Value Added Tax on the fuel to 15 percent from 10 percent earlier.

Chief Minister Laxmikant Parsekar, who presented the Rs 13,331-crore worth budget as against the Rs 10,540 crore in the previous fiscal, hiked the VAT on petrol from 10 percent to 15 percent.

The state government’s decision is in stark contrast with the promise made by the ruling BJP during its poll campaign.

The BJP government, after assuming power in the state, had abolished VAT on petrol, slashing the price by Rs 11 per litre.

“Petrol will now cost Rs 59 per litre, which is much lesser to the neighbouring states,” Parsekar said while assuring that the VAT would be slashed if international crude oil prices hike.

The Chief Minister said that the state will earn additional revenue of Rs 100 crore annually with the increase in VAT on petrol.

“I know I might attract criticism for increasing the VAT, but the increase have been done with the intention that it won’t affect common man,” he added.

PTI