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Andhra cuts petrol, diesel prices by Rs 2

IANS  |  Amaravati 

In a move to provide some relief to people reeling under increasing fuel prices, the government on Monday announced reduction in Value Added Tax (VAT) on petrol and diesel by Rs 2 per litre in the state.

N. Chandrababu announced in the state Assembly that this decision will come into effect from Tuesday.

has the third highest percentage of VAT on petrol (35.77 per cent) after and Madhya Pradesh, and highest 28.08 per cent on diesel.

said owing to the reduction in VAT, the state would lose Rs 1,120 crore in revenues annually.

He made the announcement on a day when the and the Left parties called nation-wide shutdown to protest fuel price hike.

The activists of Naidu's also took part in the protests against the (BJP)-led government across and neighbouring Telangana.

Naidu, whose party pulled out of NDA in March, accused the Centre of misleading the people by attributing the steep hike in the prices of petrol and diesel to growing prices globally.

The pointed out that the price during 2013-14 was 105.52 dollars per barrel but even when the price fell to 46 dollars, the NDA government did not pass on the benefit to common man.

said the current price of is 72.23 dollars but the is increasing the prices every day, burdening the common man.

He demanded that the Centre, too, provide relief to people by cutting down taxes on fuel prices.

--IANS

ms/nir

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

First Published: Mon, September 10 2018. 18:40 IST
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