Saturday, July 20, 2024
Writers Cave

Govt cuts Petrol, Diesel prices ahead of election announcement

Government Cuts Petrol and Diesel Prices by Rs 2/Litre Ahead of Lok Sabha Election Schedule Announcement

In a move preceding the announcement of the Lok Sabha election schedule, the government has reduced the prices of petrol and diesel by Rs 2 per litre.

The Ministry of Petroleum and Natural Gas took to social media platform X to declare the price adjustment, which will come into effect from March 15, starting at 6:00 AM.

According to the ministry’s statement, the reduction in petrol and diesel prices aims to stimulate consumer spending and alleviate operating costs for over 58 lakh heavy goods vehicles, 6 crore cars, and 27 crore two-wheelers running on diesel.

Union Minister Hardeep Singh Puri applauded Prime Minister Narendra Modi’s leadership, attributing the price reduction to his commitment to the welfare and convenience of millions of Indians.

Singh highlighted the stark differences between petrol and diesel prices in India compared to those in foreign countries, emphasizing the substantial variations in costs.

In addition to the central government’s initiative, Rajasthan Chief Minister Bhajan Lal Sharma announced a 2% reduction in the VAT rate on petrol and diesel in the state, effective from Friday. This move is expected to provide relief ranging from Rs 1.40 to Rs 5.30 on petrol and from Rs 1.34 to Rs 4.85 on diesel for consumers. Currently, the Rajasthan government imposes a VAT of 31.04% on petrol and 19.30% on diesel.

Leave a Reply