In 2011-12, the cumulative income from VAT on petrol, diesel and CNG was Rs 5,561 crore.
‘Total expenditure proposed in budget estimates for 2014-15 including debt…’
Petrol, diesel prices will be hiked by 75 paise a litre each if Narendra Modi govt accepts report.
The changes in fuel prices will be applicable with effect from Thursday midnight.
Depreciating rupee and upward surge of international crude price had contributed to oil rate hikes.
DM Arvind Kumar Singh issued an instruction asking all employees to save diesel and petrol.
Price in Delhi will go up by Rs 2.83 to Rs 74.10,while it will cost Rs 81.57 per litre in Mumbai.
The increase in the fuel prices will be implemented with effect from Wednesday midnight.
Petrol prices were hiked by Rs 1.55 per litre yesterday and came into effect from midnight.
Another round of revisions has made fuel rates yo-yo all over again.
Besides diesel,the govt also subsidised domestic cooking gas (LPG) and kerosene.
State Congress leaders announced that their party would reduce VAT on petrol,diesel and CNG in the state and withdraw VAT completely from chemical fertilisers used in farming if voted to power in the Assembly elections scheduled to be held this year-end
Lashing out at the Centre for the hike in petrol prices,Punjab Deputy Chief Minister Sukhbir Badal on Tuesday said that if the union government wanted,it could decrease petrol prices by as much as Rs 40 a litre by doing away with unnecessary taxes,it had imposed on the fuel.
The petrol pumps in Jalandhar and Phagwara witnessed a huge rush of customers as petroleum dealers across Punjab launched its protest against higher taxes on petroleum products in the state by refusing to buy fuel from oil companies for three days.
The PCMC standing committee on Tuesday approved a proposal to reduce octroi charges on petrol and diesel by one per cent in a bid to reduce fuel prices.