Petrol can be got at Rs 45 per liter, find out what the Modi government is doing
In the coming days, if petrol starts becoming available at Rs 45 per liter, then it will be a real surprise. But it can happen.
- Petrol and diesel prices may fall
- Modi government can take important decision
- Petrol can be found at Rs 45 per liter
It may be mentioned that when the price of petrol has crossed Rs 100 in most parts of the country, the Modi government may also take a decision on the price of petrol in the coming days. According to the news agency Reuters, the finance ministry has discussed the issue of tax cuts on petrol and diesel prices with some states, oil companies and the petroleum ministry.
Efforts are being made to provide relief to the general public
However, according to sources, the finance ministry wants a way that will not affect the government's revenue and the general public will also get relief from the price hike.
Central government reduced excise and state government VAT
Vehicles all over the world are running on petrol and diesel. A change in its price affects everyone whether they are driving or not. Remarkably, the price of both fuels has increased by around Rs 5 in February. Now, if the central government reduces production costs and the state government reduces VAT to reduce fuel prices, then petrol-diesel prices may come down.
These states reduce VAT
The governments of Rajasthan, West Bengal, Assam, Puducherry and Meghalaya have recently reduced VAT on petrol and diesel and provided some relief to the general public. The first decision to reduce VAT on petrol and diesel was taken by the Rajasthan government.
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Petrol-diesel should be brought under GST
A few days ago, Chief Economic Advisor KV Subramaniam supported the proposal to bring petroleum producers under the Goods and Services Tax. "This decision would be very welcome," Subramanian said in a recent India discussion with members of FICCI FLO. It is for the GST Council to decide.
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