On the eve of Diwali, the central government slashed excise duty on petrol by Rs 5 per litre and that on diesel by Rs 10 a litre. The Ministry of Petroleum and Natural Gas said the reduction will benefit the Indian farmers. The ministry added, “It will also boost consumption and keep inflation low, thus helping the poor and middle classes.” Soon after the centre’s announcement, petrol and diesel prices were reduced by 22 states & Union Territories. The most reduction in petrol prices has been in Ladakh, Karnataka and Puducherry. BJP-ruled states - Tripura, Manipur, Assam, Karnataka, Himachal Pradesh, Goa, Uttar Pradesh, Gujarat, Haryana and Uttarakhand, announced additional cuts. Assembly polls are due in Uttar Pradesh, Uttarakhand, Manipur and Goa. States which are yet to cut VAT on petrol and diesel are Maharashtra, Delhi, West Bengal, Tamil Nadu, Telangana, Andhra Pradesh, Meghalaya, Andaman & Nicobar, Kerala, Chhattisgarh, Punjab & Rajasthan. Watch the video to know more.
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