VAT on petrol re­duced

The Free Press Journal - - EDIT -

Af­ter BJP-ruled state Gu­jarat, now Ma­ha­rash­tra has be­come the sec­ond state to slash the value added tax on prices of petrol and diesel by Rs.2 and by Re.1 re­spec­tively. The de­ci­sion will be a big re­lief to the ci­ti­zens, as Ma­ha­rash­tra levies the high­est VAT in the coun­try on Petrol. Ear­lier in the day, poll bound Gu­jarat also slashed the VAT on fuel prices in the state. Even though it is a ret­ro­grade step in the wake of stiff op­po­si­tion on oil prices, the re­cent re­duc­tions will have a di­rect im­pact on the prices and it is a good news. With the re­duc­tion of oil prices, we now ex­pect the loss of busi­ness to the neighbouring states to re­duce be­cause of lesser price dif­fer­ence. De­spite the se­ries of re­duc­tion of Rs.4/-, petrol in

Mum­bai will re­main costli­est in the coun­try. It is a right step in the right di­rec­tion in the present eco­nomic sce­nario and will be wel­comed by all the par­ties with­out any up­roar. The state govern­ment is look­ing for gar­ner­ing more busi­ness in the wake of eco­nomic slow down as an­nounced by RBI. — Ab­hishek Rama

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