Announcing the cut in Delhi, finance minister Jaitley said the Centre would reduce the excise duty by Rs 1.5 per litre while oil marketing companies would absorb the rest Re 1 per litre. He said the Kerala government wants the Centre to remove taxes on petrol and diesel that were imposed when the BJP-led government imposed in 2014 after coming to power.
Within minutes of Jaitley's announcement, Maharashtra chief minister Devendra Fadnavis tweeted saying his government had "also made a decision to give additional relief" of Rs 2.50 on fuel rates in the state.
Petrol in Mumbai will now be available at Rs 86.34 per litre while in Ahmedabad, it will be available for Rs 78.21 per litre.
Finance Minister Arun Jaitley on Thursday cut petrol and diesel prices by Rs 2.50 per litre with immediate effect, providing some relief from rising fuel prices. The Centre and oil companies will also take a hit of Rs 1.50 per litre and Re 1 per litre respectively in their revenue.
Maharashtra, Gujarat and the other BJP ruled states were quick to hear him.
Maharashtra chief minister Devendra Fadnavis said that his government also decided to make a matching cut as this would be a "great relief" to the people.
The cuts will cost the Centre Rs 10,500 crore in tax revenues, he said.
Speaking on the reason for price cut, the Finance Minister said that there has been a significant impact of higher interest rates in the U.S. and crude oil prices on rising fuel prices in the country.
It is only the worldwide factors, primarily rising prices of crude and domestic policy and other measures like the interest rate hike by the U.S., which have affected India, Jaitley said adding domestic indicators were strong and stable. "Thus petrol & diesel wd be Rs. 5 cheaper in the State of Gujarat", he tweeted. To bring some relief to citizens, three states had reduced fuel rates in August, including West Bengal.
Rupee Thursday dropped to 73.77 against the dollar, resulting in expensive crude imports. Rajasthan, Andhra Pradesh and Karnataka are among the handful of states which have reduced Value-Added Tax. "Each and every state has their own situation [sic], so first, let the letter come".
Now if you'll excuse me, I've going to spend the next couple of hours starting at lots of little dots going round in circles. So if you don't get the update for a month, there's a chance Microsoft is actually trying to save you from headaches.
Remember Superbowl LI? This week they managed to end the Dolphins' 3-0 winning streak and injure several of their players. Their offense hasn't looked as machine-like as usual, mostly because they had nobody that can do what Edelman does.
They also said it is their #3 Marvel movie overall, only trailing Infinity War and Black Panther ticket sales. Visually, which is the only thing really going for it, Venom has a stylishly gloomy Nolan-does-Gotham vibe.
Barcelona have returned to winning ways thanks to a 3-2 victory over Tottenham Hotspur in the Champions League this evening. Our players were heroes because they were chasing the game against Messi , Suarez, Coutinho and co.
Russia sent the missile system to Syria shortly after a military jet was downed there in September, killing 15 Russian aircrew. The US and Israel both say they'll keep fighting in Syria, and that means air power for the advanced militaries.
OH has a strong manufacturing and farming base that some believe has suffered due to the NAFTA deal approved in the 1990s. The agreement says those factories must pay a minimum of US$16 (S$22) an hour in average salaries for production workers.
With respect to the attack, British prosecutors have charged two Russians, Alexander Petrov and Ruslan Boshirov, in absentia. In March 2018, Skripal was almost killed in an apparent assassination attempt allegedly by Russian intelligence agents.
The official death toll of Indonesia's quake and tsunami surged to 1,234 on Tuesday, and resources for survivors are running thin. The World Health Organization has estimated that across Donggala, some 310,000 people have been affected by the disaster.
UB40 Want Nothing to Do With Brett Kavanaugh
Under Senate rules, the key vote on McConnell's cloture motion will take place one hour after the Senate convenes Friday. She said a drunken Kavanaugh pinned her down, tried to remove her clothing and covered her mouth when she screamed.
Lilo & Stitch Live-Action Remake Planned at Disney
Like a lot of these things (and let's face it, nearly every major movie out there), the film will be a live-action/CG hybrid. The live-action remakes of animated Disney classics are continuing and this time, they'll be doing a little "experiment".
Addison Russell releases statement on his suspension
Chicago Cubs star Addison Russell has been suspended for 40 games for violating Major League Baseball's domestic violence policy. He'd be due a raise on this season's $3.2MM salary after posting a dismal.250/.317/.340 batting line through 465 games.