Modi government may reduce Petrol and Diesel prices due to the defeat in By-election
By Lokmat English Desk | Published: November 4, 2021 06:38 PM2021-11-04T18:38:06+5:302021-11-04T18:38:06+5:30
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After the rout defeat in By-election, the Bjp had to face many problems in many places across the country. This defeat against Shiv Sena had led Bjp into extreme pressure now the party had to pay more concentration to the upcoming five states election and to overcome this defeat Bjp government has planned a new strategy for elections.
The central government has decided to reduce excise duty on fuel to relieve the general public from inflation. By reducing petrol by Rs 5 and diesel by Rs 10, the Center has tried to give some relief to the citizens.This strategy may help the Bjp government to overcome the loss in elections.
Following the Centre's decision, several states decided to reduce VAT. Therefore, petrol will be cheaper from Rs 6 to Rs 12 and diesel from Rs 11 to Rs 17.
According to PTI, the reduction in excise duty will reduce the government's revenue by Rs 8,700 crore per month. So in a whole 12 months, that is, in one year, the government can be hit by around Rs 1 lakh crore.
The excise duty is the lowest ever. In May last year, when crude oil prices were very low. At that time, the government had increased VAT on petrol and diesel by Rs 13 and Rs 16, respectively.
As a result, petrol was taxed at Rs 32.98 and diesel at Rs 31.83. But now after reducing petrol by Rs 5 and diesel by Rs 10, the tax has been reduced to Rs 27.9 on petrol and Rs 21.8 on diesel, respectively.
Goa Chief Minister Dr. Pramod Sawant said that the Goa government will reduce taxes on petrol and diesel by Rs 7. Therefore, the price of diesel in Goa will be reduced by Rs 17 per liter and the price of petrol by Rs 12 per liter.
Shiv Sena has tweaked BJP after reducing petrol and diesel prices. Due to the defeat in the by-elections in the country, the central government has reduced the rates of petrol and diesel. So if we want to make petrol cheaper by Rs 50, we have to defeat the BJP all over the country
The reduction in petrol and diesel prices by the central government is not a relief to the common man. The government should have reduced petrol by Rs 50. This is a mismatch, as RJD chief Lalu Prasad has said that they will increase petrol and diesel prices in a few days.
