In various parts of the country, petrol prices have crossed 110 rupees and diesel prices have crossed 100 rupees, pushing up the prices of essential commodities. With no change in petrol and diesel prices for the last 45 days, Union Finance Minister Nirmala Sitharaman yesterday announced a reduction in excise duty on petrol and diesel. He asked the state governments to follow the federal government and reduce taxes on petrol and diesel.
Prior to the tax cut, a liter of petrol in Tamil Nadu sold for Rs 110.85 and diesel for Rs 100.94. Following this, a liter of petrol sold for Rs 102.63 and diesel for Rs 94.24 in Tamil Nadu today.
Criticizing the tax cuts, former finance minister P. Chidambaram has said that state governments receive less share in petrol and diesel taxes and that many states’ revenue depends on taxes on petrol and diesel. P. Chidambaram said it was not clear whether the states would be able to reduce petrol and diesel prices without providing additional funding.
Read more | Action reduction in petrol and diesel prices!
Hence, contrary to what I said yesterday, the entire burden of the reduction falls on the Centre. To that extent, I stand corrected
The states are getting very little by way of share of duties on Petrol and Diesel. Their revenue is from VAT on Petrol and Diesel
– P. Chidambaram (@PChidambaram_IN) May 22, 2022
Congress MP In a Twitter post, Rahul Gandhi criticized the government for raising petrol prices from Rs 95 in March to Rs 105 in May and now reducing the tax to Rs 96. Noting that petrol and diesel prices are expected to rise by 30 paise and 80 paise per day, Rahul Gandhi said the government should stop deceiving the people and take steps to reduce inflation.
Petrol Prices
May 1, 2020: ₹69.5
Mar 1, 2022: ₹95.4
May 1, 2022: ₹105.4
May 22, 2022: ₹96.7Now, expect Petrol to see ‘Vikas’ in daily doses of ₹0.8 and ₹0.3 again.
Govt must stop fooling citizens. People deserve genuine relief from record inflation.
— Rahul Gandhi (@RahulGandhi) May 22, 2022
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