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Andhra Pradesh govt announces Rs 2 cut in VAT on petrol, diesel

Updated: 10-09-2018 17:18 IST
Andhra Pradesh govt announces Rs 2 cut in VAT on petrol, diesel

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After poll-bound Rajasthan, the Andhra Pradesh government Monday announced a Rs 2 cut in a VAT on petrol and diesel to check the mounting prices of these fuels.

Chief Minister N Chandrababu Naidu announced the reduction in Value Added Tax in the state assembly. He said the state government was currently levying Rs 4 per liter VAT on petrol and diesel. "The central government has been imposing a heavy burden on people by steeply increasing the prices of petrol and diesel despite heavy income in the form of various levies and dividends.

"Though the state is faced with a deficit budget, we have decided to reduce the tax and ease the burden on people," he said. The state would have to forego a revenue of Rs 1,120 crore due to the measure, he said. A day before the opposition-sponsored Bharat Bandh against rising fuel prices, poll-bound Rajasthan had on Sunday slashed the VAT on petrol and diesel.

Chief Minister Vasundhara Raje announced a 4 percent reduction which brought the prices of the two commodities down by Rs 2.5 per liter.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)