Petrol, diesel cheaper by Rs 5 in Maharashtra and Gujarat

The state governments in Maharashtra, Gujarat, Chhattisgarh, Jharkhand and Tripura today reduced the prices of petrol and diesel by Rs 2.5.

The state governments in Maharashtra, Gujarat, Chhattisgarh, Jharkhand and Tripura today reduced the prices of petrol and diesel by Rs 2.5 soon after the Finance Minister Arun Jaitley announced a similar cut in fuel prices. After the tax cut at central and state level, both petrol and diesel will be cheaper by Rs 5 in these states.

In a press briefing, Jaitley said that the Centre will cut Rs 1.50 in excise duty on fuel while an additional Re 1 will be absorbed by the Oil Marketing Companies (OMCs). The Finance Minister had also urged the state governments to cut the VAT on fuel by an equal amount. Acting on Arun Jaitley’s advice, chief ministers of Maharashtra and Gujarat reduced state taxes on petrol and diesel.

“Reciprocating positively to FM’s announcement, the Govt Of Gujarat has also decided to reduce Rs 2.50 on both petrol & diesel. Thus petrol & diesel wd be Rs 5 cheaper in the State of Gujarat,” Gujarat CM tweeted.

Maharashtra CM Devendra Fadnavis thanked PM Modi and Finance Minister Arun Jaitley for excise duty cut. “Maharashtra Government also decided to give additional relief of Rs 2.5/litre on Petrol to give total benefit of Rs 5/litre in the State of Maharashtra,” Fadnavis tweeted.

Jaitley said the move will have an impact of Rs 10,500 crore on the revenues of central government this fiscal but the government is confident of achieving the fiscal deficit target.

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