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Recent Updates — Petrol, diesel price hike temporary, says Assam minister; cites fall in monthly revenue – india news

Petrol, diesel price hike temporary, says Assam minister; cites fall in monthly revenue – india news

Assam finance minister Himanta Biswa Sarma has said that government’s decision to hike prices of petrol and diesel is an effort to protect the state’s revenue.

“The increase in prices of petrol/diesel is an effort to cover some losses and partially protect our revenue. This is a temporary measure and there will be a roll-back once the coronavirus crisis ends,” Sarma said on Wednesday.

The minister also said that due to Covid-19 lockdown, most people are unable to use their own vehicles and two-wheeler and also the owners of the other vehicles – like trucks and buses – running their automobiles in a limited way, people at large would not be affected.

“Pain has to be shared by every one to overcome the crisis,” Sarma remarked.

Assam earns an average of Rs 166 crores monthly as royalty from sale of oil. But due to prices coming down that figure would be less than Rs 50 crore per month, he added.

The state government issued a notification on Tuesday notifying that the VAT (Value Added Tax) for diesel has been fixed at 23.66 paise in the rupee or Rs 17.45 per litre, whichever is higher, and VAT for petrol and other motor spirits at 32.66 paise in the rupee or Rs 22.63 per lire, whichever is higher.

With this, the price of petrol increased from Rs 71.61 to Rs 77.46 per litre and of diesel from Rs 65.07 to Rs 70.50 per litre.

The revised rates have come into effect from April 22 midnight.

2020-04-23 06:27:19

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