Centre challenges non-BJP states to cut Value-Added Tax on fuel

Petrol diesel prices to come down by Rs 2.50 govt cuts excise duty

State-run refiners will also cut the price they charge by 1 rupee per litre.

For almost a month, union ministers had insisted there would be no cut in prices of petrol and diesel, but the Narendra Modi government on Thursday succumbed to the pressure built not just by the farmer protest, but to voices within the Bharatiya Janata Party (BJP). Some states had announced cuts of varying magnitudes earlier. The Centre has cut excise duties only twice in the past 22 months - once in October previous year when it cut the duty by Rs 2 a litre and now by Rs 1.50. The Modi government has raised it to Rs 19.48 per litre. The states where the prices have been decreased are Gujarat, Chhattisgarh, Tripura, Jharkhand, Uttar Pradesh, Madhya Pradesh, Maharashtra, Himachal Pradesh, Haryana, Assam, Arunachal Pradesh, Uttarakhand, Jammu and Kashmir and Goa, said reports. If the Centre is serious, it should reduce the tax to what it was when it assumed office.

Meanwhile India's finance minister Arun Jaitley has indicated that the government plans to draw on other indirect taxes like the GST to offset the additional burden on the government revenues, but in recent years the BJP government has relied heavily on taxes collected on petrol and diesel to prop up India's fiscal deficit which had widened to 4.4% of GDP as of March 2014.

Yet now that the higher oil prices have combined with a falling rupee after the latest quarterly economic growth figures turned out disappointing, with the deficit widening, India is facing a serious challenge in sustaining its growth while reducing the adverse impact of the latest oil market developments.

Fuel prices cut by ₹2.50 ($.034) a litre in several states across India.

Bette Midler apologizes for 'N-word' remarks after backlash
It rang true then, and it rings true today [.] This is not about race, this is about the status of women; THEIR history. We respectfully ask that you delete the tweet using the "N" word . "It also denies Black women agency".

While most people had a laugh about the government lowering fuel prices by just Rs 2.50 per litre, some people praised the government for doing so.

On May 16, 2014, the price of crude oil was 107.09 U.S. dollars per barrel.

Nearly half of the fuel price is made up of taxes.

"Since May 2014, the Modi government has increased central excise duty 12 times".

A CPI statement pointed out that some states, including Kerala, have already reduced the state levy on petroleum products by Rs 2. That's aimed at checking a rise in retail prices which hit new highs every day as the Brent crude surged 28 percent his year.

Related News:



Most liked

Mike Moustakas heroics in the 10th, give Brewers a walkoff playoff win
I think the Dodgers can manage to win this series, and face off against Atlanta in the divisional Championship Game. One year after he was pounded by Houston in his playoff debut, Sale took a four-hit shutout into the sixth inning.

Dodgers aim to maintain lead over Braves
Snitker said Game 1 starter Mike Foltynewicz is under consideration to start Game 4 if necessary on Monday at SunTrust Park. They used seven scoreless innings from starter Hyun-jin Ryu and got a three-run, second-inning blast from Max Muncy .

Opposition wanted PM's intervention in Shehbaz Sharif case, claims Fawad Chaudhry
President Shehbaz Sharif was arrested by the National Accountability Bureau (NAB) on Friday in a Rs 14 billion housing scam case. He was released from prison last month after a court suspended his sentence pending an appeal.

Cannabis Causes Long-Term Damage to Teen Brains
The research team recruited almost 4,000 teenagers from over thirty different Canadian schools to track them for a period of four years.

Girl dubbed ‘Queen of Sweden’ after drawing ancient sword from lake
Vanacek wrote that an archaeologist came the next day with "goosebumps" and placed the sword underwater to preserve it. BBC reports that Saga Vanecek made the exciting discovery while swimming in the Vidostern lake in Sweden.

Democratic Sen. Joe Manchin Announces Support For Kavanaugh
It depends on the thinking of a few wavering senators in a chamber where Mr Trump's fellow Republicans hold a razor-thin majority. Senators were allowed to read it behind closed doors in a secure location in the Capitol, without taking notes or making copies.

European Union court may decide before Christmas if United Kingdom can unilaterally reverse Brexit
As the President of the European Council and someone who spent half of my life in the Soviet Bloc, I know what I'm talking about. There is no official confirmation of the plans or when the proposals will be presented to the European Union , she added.

Red tide closes Florida beaches, could impact millions in tourism dollars
Call could not say when closed beaches would reopen. "A red and purple flag will be flying indicating high hazard conditions". In recent months, concentrations of Karenia brevis - the red tide organism - have been found along Southwest Florida's coast.

So everyone got the name of Harry and Meghan's dog completely wrong
She continued, "Doria might be her best friend now because she ghosted her friend of 30 years". She then responded to a follower by all but calling out Doria as an absentee mother.

UK, Netherlands accuse Russian Federation of hacking, including chemical weapons watchdog
What was on their computer? "They were trying to commit a close access hack operation", he said. When this failed, some would travel to access their target through its local Wi-Fi connection.

UFC 229: Check Out Episode One of Khabib Nurmagomedov's Training Camp Vlog
But four years after his breakthrough victory over future champion Rafael dos Anjos , Nurmagomedov still hasn't had that victory. This begs the question: What would McGregor do if Nurmagomedov missed weight? Then when it's fighting there's not enough talk.

Cristiano Ronaldo ready to play for Juventus amid rape allegation
The 33-year-old athlete on Tuesday denied rape allegations leveled against him by a woman who sued him in court in Nevada. EA Sports use Ronaldo as the face of their huge Federation Internationale de Football Association gaming franchise.

How Jersey Shore Family Vacation's Snooki Supported JWoww After Divorce News
Since then, she's also appeared in show such as Marriage Boot Camp , Jenni & Roger: Domesticated, Disaster Date and others. E! News reports Farley began divorce proceedings in Ocean County, New Jersey, stating "irreconcilable differences".

Manchester United chief Woodward lines up Pochettino as Mourinho's replacement
United are now embroiled in somewhat of a crisis, with the club sitting 10th in the Premier League table after seven games. And, to spin the current negativity around, his side are still only five points off a Champions League place.

Rock used as doorstop revealed to be meteorite worth $100K
When he arrived, he pulled out of a bag the biggest potential meteorite she had ever been asked to examine. The man told Sirbescu that he kept the rock for the next 30 years, even after moving away from the farm.