Maharashtra, Gujarat cut fuel prices by Rs 2.50; Kerala, Karnataka refuse

04 October, 2018, 17:41 | Author: Eric Barnett
  • FM Arun Jaitley addressing a press conference at North Block in New Delhi

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".

Recommended:



Popular

'I'm not interested': José Mourinho responds to Paul Scholes' criticism
I always look forward to our games but recently Mourinho has made watching us a punishment now. Ryan Giggs believes Jose Mourinho should remain as Manchester United manager.

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".

Lionel Messi Barcelona made Tottenham look 'lost' in first half at Wembley
Spellbound by Messi's magic, Tottenham backed off again moments later as the striker hit the woodwork for a second time . Mauricio Pochettino's side have lost both of their group matches after a 2-1 defeat at Inter Milan in their opener.

Wife of ex-Malaysian leader charged with money laundering
Chin said the charges against Rosmah, 66, will likely be well received by many in the Southeast Asian nation. The homemaker must come up with the remaining RM1.5 million on or before October 11.

Anti-Kavanaugh Vigils Held Across US as Senators Await FBI Report
She testified that a drunken Mr Kavanaugh pinned her down, tried to remove her clothing and covered her mouth when she screamed. It was part of extensive renovation works on the couple's California home, which also included a new bathroom.

Watch Trailer For Netflix's The Chilling Adventures of Sabrina
Wonder Woman's Lucy Davis and Lord Of The Rings alum Miranda Otto are set to play the beloved Aunt Hilda and Aunt Zelda , respectively.

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.

Sarah Sanders Defends Trump's Christine Blasey Ford Comments, Twitter Users Flip
The two other Republican female senators say victims should be heard, but they want Kavanaugh confirmed. Kavanaugh, she said, deserves a vote as soon as possible.

Theresa May Throws Shapes To 'Dancing Queen' At Tory Conference
Her speech was aimed at providing an upbeat vision for Britain post-Brexit - and after eight years of austerity. Naturally, within the blink of an eye, the internet had jumped onto Twitter to share their disbelief.