Budget 2019-20: Dharmendra Pradhan justifies hike in taxes on fuel

Justifying hike in the taxes on fuel in the Union Budget 2019-20, Union minister Dharmendra Pradhan Saturday said there is a requirement of funds for the overall development of the country. "There is a requirement of funds for the overall development of the country. As there is a decline in the price of fuel in the international market, Indian economy should take advantage of the situation," the Petroleum and Natural Gas Minister told reporters while replying a question on increase of the price of petrol and diesel.

Meanwhile, the price of both petrol and diesel has increased in Bhubaneswar Saturday, a day after Union Finance Minister Nirmala Sitharaman raised taxes on fuel. While per liter petrol price in the state capital was Rs 69.41 Friday, it increased by Rs 2.53 to Rs 71.94 on Saturday.

Similarly, the price of diesel has gone up by Rs 2.65 per liter to Rs 71.51. The price of diesel in Bhubaneswar Friday was Rs 68.86 per liter. The Union finance minister Friday announced raise of excise duty and road and infrastructure cess on petrol and diesel by Rs 2 per liter each.

The diesel price in Odisha is the second-costliest in the country after Telangana. This is because Odisha levies the second-highest VAT at the rate of 26 percent on diesel while the rate of VAT in Telangana is 27 percent.

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