|
|
|
|
|
|
| |
| |
By Category |
 |
|
|
| |
|
| |
| |
India On Media |
|
|
|
| |
|
| |
|
|
| Budget
News |
|
| Congress asks states to cut ....... |
| The Congress has asked the states, where it is in power, to reduce sales tax.
|
| INDIA
, 4-June-2008
8:9:32 AM |
| The Congress has asked the states, where it is in power, to reduce sales tax. The Left ruled states have already announced a cut in sales tax from 25 per cent to 20 per cent.
As a result, on average, petrol and diesel will cost one to two rupees less than it was expected to.
In the end though, the five rupee hike on petrol and three rupee hike on diesel may actually not translate into a five and three rupee increase in the prices.
This is what the Congress said announcing the cut in sales tax.
''Hike inevitable''
Petrol in Delhi will cost Rs 50.56 a litre after the hike, while diesel prices would go up from Rs 31.8 to Rs 34.8 a litre effective midnight tonight. LPG prices have gone up by Rs 50 per 14.2-kg cylinder to Rs 344.75.
''We were left with no option,'' Petroleum Minister Murli Deora told a packed news conference after a meeting of the Cabinet Committee on Political Affairs (CCPA).
State-run Indian Oil, Bharat Petroleum and Hindustan Petroleum would have suffered a revenue loss of Rs 245,305 crore this fiscal if the prices had not been hiked and the across-the-board 5 per cent cut in custom duties on crude and petroleum products and a Re one per litre reduction in excise on petrol and diesel were not announced.
''Due to the relentless increase in international oil prices, it has now become necessary for the consumer... to shoulder a small part of the increased burden, through a marginal hike in prices,'' Deora said.
Petrol and diesel prices were last raised in February. The last steepest hike was Rs 4 a litre on petrol and Rs 2 per litre on diesel announced by the UPA Government in September.
Left to protest
The political backlash has begun on the fuel price hike. Moments after the government announced the hike, Left parties called for week-long protests across the country from Thursday.
The protests will begin with a 12-hour bandh on Thursday itself in West Bengal.
|
|
|
|
|
|
|
|
ADVERTISEMENTS
Free offer!!! Become an administrator for your zip home page, "Post" local news (local to your postcode)& pictures, "Post" advertisement banners from local companies. Make Extra money.
|
 |
 |
|
|
| |
|
