Kerala Finance Minister KN Balagopal announced that the state would reduce tax on petrol by Rs 2.41 per liter and on diesel by Rs 1.36 per litre.
In a Facebook post, Balagopal said the state government welcomes the Centre’s decision to bring a partial reduction in fuel tax, which had increased astronomically. In accordance with the Centre’s decision to cut the tax on petrol and diesel, the Kerala government would also bring in a reduction in tax, he said.
Earlier in the day, the Center reduced the excise duty on petrol by Rs 8 per liter and that on diesel by Rs 6 per litre. “We are reducing the Central excise duty on petrol by Rs 8 per liter and on diesel by Rs 6 per litre. This will reduce the price of petrol by Rs 9.5 per liter and of diesel by Rs 7 per liter,” Union Finance Minister Nirmala Sitharaman announced, pointing out that it will have revenue implications of around Rs 1 lakh crore per year for the government.
The Union minister also encouraged the state governments to implement a similar cut. “I wish to exhort all state governments, especially the states where reduction was not done during the last round (November 2021), to also implement a similar cut and give relief to the common man,” she said.
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