Madhya Pradesh cuts Value-Added Tax on Petrol, diesel, new prices from midnight

Petrol Price in Madhya Pradesh: Chief Minister cuts back 3% VAT

Petrol Price in Madhya Pradesh: Chief Minister cuts back 3% VAT

The VAT on diesel has been reduced by 5 per cent while that on petrol by 3 per cent, said Chief Minister Shivraj Singh Chouhan as quoted in a tweet by news agency Asian News International.

The Madhya Pradesh government on Friday announced cuts in state-imposed taxes on diesel and petrol, which will lead to a reduction in the prices of the two petroleum products by Rs 4 and Rs 1.62, respectively. The VAT on diesel is reduced by 5 per cent. Earlier, Gujarat, Maharashtra and Himachal Pradesh had announced cut n fuel.

An additional Rs. 1.50 have also been reduced on the same.

The chief minister said the decision to cut the Value-Added Tax was taken in the interest of the public. Consumer price index-based inflation accelerated for the second consecutive month by 3.36% in August from 2.36% in July.

On October 5, Petroleum Minister Dharmendra Pradhan, then, asked states to follow the Centre's footsteps in cutting taxes on petrol and diesel. "New prices will come into effect from midnight". "We urge the states to take the responsibility just like the Centre did, in direction of the consumer interest, so that they get more relief", Pradhan said. "But the BJP state government treats petrol and diesel as a profit-making venture levying a hefty Value-Added Tax of 31% on petrol and 27% in diesel", Mishra said. "During the UPA government regime under Prime Minister Manmohan Singh, the global crude oil prices were as high as $72 to $75 per barrel and yet prices of fuel were not as high as it is today", Mishra argued. "Going by the crude oil prices in global market, the petrol price should be less than Rs 50 per litre".

Notícias recomendadas

  • Nama to redeem last slug of senior debt ahead of schedule

    Nama to redeem last slug of senior debt ahead of schedule

    Nama will announce plans today to redeem the last tranche of senior debt it issued to help to clean up the banking system. NAMA will still have €1.6 billion of unguaranteed debt which is owed to AIB, Bank of Ireland and other investors.

    Radian Group Inc. (NYSE:RDN) Experiences Lighter than Average Trading Volume

    The value of the investment in Radian Group Inc. decreased from $1,879,000 to $1,787,000 a change of 4.9% quarter to quarter. California Public Employees Retirement System boosted its stake in shares of Radian Group by 1.3% in the first quarter.
    Tourist plunged to her death at beauty spot

    Tourist plunged to her death at beauty spot

    Jin Gyeong Jang said: "I saw her standing then heard the sound of a bang, then she was not there". In all, police said there were six photos of Ms Kim on the cliff, before she fell.
  • Yellowstone's Supervolcano Could Blow Sooner Than We Thought

    Yellowstone's Supervolcano Could Blow Sooner Than We Thought

    According to ZME Science, Yellowstone has erupted at least three times ; the last time was approximately 630,000 years ago. The supervolcano has been analyzed by many research teams and independent volcanologists in the past.
    GTA 5 Online's Transform Races Mode Releases Next Week

    GTA 5 Online's Transform Races Mode Releases Next Week

    His only chance of survival would be to pass on his death sentence to another opponent. One minute they will be driving a bike or flying a plane, and the next a auto or boat.
    Amazon Partners With Microsoft to Release 'Gluon' Deep Learning Library

    Amazon Partners With Microsoft to Release 'Gluon' Deep Learning Library

    AWS and Microsoft published Gluon's reference specification so other deep learning engines can be integrated with the interface. Fourth, it provides these benefits without slowing down the training process.
  • Davido face à la police pour une affaire de meurtre — Showbiz

    Davido face à la police pour une affaire de meurtre — Showbiz

    Alors que des enquêtes sont en cours, un rapport d'autopsie vient de confirmer la thèse de mort par asphyxie. Comme si cette affaire ne suffisait pas, deux autres "morts mystérieuses" s'y ajoutent.
    Florida detective catches 9-foot anaconda barehanded

    Florida detective catches 9-foot anaconda barehanded

    Officials say Shaw had experience handling exotic snakes, so she was the right person for the call. Shaw was armed with only a large tree branch and what appears to be a gym bag.

    Where Alcobra Ltd. Ord (ADHD) Stands on Analytical Review Chart?

    The stock go down so far this year; showing a decline of -44.29% and added with positive flow of 15.84% during recent week. Ord (NASDAQ: ADHD)'s shares owned by insiders are 32.83%, whereas shares owned by institutional owners are 31.8%.
  • Steve Wozniak Announces Formation of Woz U

    Steve Wozniak Announces Formation of Woz U

    There soon will be an accelerator program to identify and develop elite tech talent. I know they can, and I want to show them how", Wozniak said in a statement Friday .
    RC Strasbourg, Garcia fait déjà face à un casse-tête — OM

    RC Strasbourg, Garcia fait déjà face à un casse-tête — OM

    Du coup, Sertic est confronté à des critiques qui ne l'affectent pas. Je ne me cache pas", a-t-il reconnu en toute simplicité. Après ceux qui critiquent, ça ne m'intéresse pas .
    Peering to the Milky Way's far side

    Peering to the Milky Way's far side

    Bottom line: Astronomers used parallax to obtain a direct measurement past the center of our galaxy, to the Milky Way's far side. This radio telescope system consists of 10 dish antennas distributed across North America, Hawaii, and the Caribbean.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.