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Friday, August 14, 2020

Diesel prices dip in capital as govt rolls back tax hike

Chief Minister Arvind Kejriwal announced that the rate of VAT on diesel was being brought back to 16.75 per cent from 30 per cent. The decision was taken in a Cabinet meeting Thursday morning.

By: Express News Service | New Delhi | Published: July 31, 2020 4:04:07 am
delhi diesel prices, petrol prices, fuel prices, vat on diesel, tax on fuel price, indian express The hiked VAT on petrol has not been lowered. Petol is being sold at Rs 80.47 per litre in the capital. (File)

The price of diesel will come down by Rs 8.36 per litre in the capital with the Delhi government rolling back its decision — taken in May — to hike tax on the fuel.

Chief Minister Arvind Kejriwal announced that the rate of VAT on diesel was being brought back to 16.75 per cent from 30 per cent. The decision was taken in a Cabinet meeting Thursday morning.

“The price of diesel was Rs 82 per litre on Wednesday. After the reduction of VAT, the new price will be Rs 73.64 per litre,” Kejriwal said, describing the move as a significant step to bring the economy back on track.

On May 5, the Delhi government had increased VAT from 27 per cent to 30 per cent on petrol and from 16.75 per cent to 30 per cent on diesel. The decision was taken to generate revenue as the economy had to come to a halt due to the lockdown.

The hiked VAT on petrol has not been lowered. Petol is being sold at Rs 80.47 per litre in the capital.

“Our main challenge now is to get the economy back on track. Many businesses are shut, industries are shut. This decision to lower VAT is an important step towards reviving the economy. We were getting representations from trade bodies that the high price of diesel was a source of difficulty,” Kejriwal said.

The CM said that over the last one week, the Delhi government has taken several measures to boost the economy. The measures he listed included the launch of a job portal and allowing street vendors to resume business. “I am very happy that it has just been three-four days since we started the job portal. Around 7,577 companies have registered on the portal, 2,04,785 jobs have been advertised here, and 3,22,865 job seekers have applied on the portal,” he said.

Kejriwal once again appealed to traders, industrialists, and businessmen in the city to “join hands” to revive Delhi’s economy. “I want to appeal to all shopkeepers, traders and industrialists to open their shops and industries, maintain social distancing and wear masks but restart their operations and work. In the coming days, I will be meeting many industrialists and traders through video conferencing on Zoom and will try to resolve any issues that they are facing,” he said.

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