BIG RESPITE! Petrol prices slashed by Rs 3 per litre in THIS state, govt to bear deficit of Rs 1,160 cr

Giving a major relief to the working-class in the State, the Tamil Nadu government on Friday, August 13 announced to reduce the price of petrol by Rs 3 per litre.

Tamil Nadu Finance Minister Palanivel Thiagarajan while presenting the budget on Friday said that the petrol prices have been slashed by Rs 3 and because of this, the state government will face a deficit of Rs 1,160 crores in a year.

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"Tami Nadu has 2.6 crores of people who use two-wheelers. The state government reduces the price of petrol by Rs 3 per litre. Due to this, the state government will face a deficit of Rs 1,160 crores: Tamil Nadu Finance Minister P Thiaga Rajan, in State Assembly," ANI tweeted.

Tami Nadu has 2.6 crores of people who use two-wheelers. The state government reduces the price of petrol by Rs 3 per litre. Due to this, the state government will face a deficit of Rs 1,160 crores: Tamil Nadu Finance Minister P Thiaga Rajan, in State Assembly

— ANI (@ANI) August 13, 2021

According to the revised budget estimates 2021-2022, the state government has decided to reduce the effective rate of tax on petrol by Rs 3 per litre and thereby provide major relief to the toiling working-class people in the State. This measure will result in a loss of revenue of Rs 1,160 crore a year, as per a report by ANI.

The Dravida Munnetra Kazhagam (DMK) government had presented its first budget after coming to power, months after it swept the April 6 Assembly elections.

The fuel prices have been increasing continuously across the country and have crossed Rs 100 in many states.