Maharashtra budget: Petrol to be cheaper by 65 paise, diesel by Rs 2.60 in Mumbai region

Maharashtra budget: The Maharashtra government on Friday slashed the value-added tax (VAT) on fuel in the Mumbai metropolitan region, which will make petrol cheaper by 65 paise per litre and diesel by Rs 2.60 per litre.

The announcement was made by Deputy Chief Minister and state Finance Minister Ajit Pawar during the presentation of the annual state budget. The decision will be applicable only in the Mumbai metropolitan region, he said. The move will cost the state exchequer Rs 200 crore, Pawar said.

Talking to reporters later, Chief Minister Eknath Shinde said, "The VAT cut has been proposed in the budget. Once the budget is passed by the state legislative assembly and the council, the decision will come into effect from July 1."