Petrol-diesel prices may be cheaper in Maharashtra, cabinet meeting today; know how it affects state government

Petrol-Diesel Price: Prime Minister Narendra Modi on Wednesday urged states to cut VAT on oil prices, the effect of which is being seen. People in Maharashtra can get some relief from oil prices today as the Maharashtra cabinet can consider the proposal to reduce the prices of petrol and diesel today.

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According to the information, in the meeting of the Maharashtra cabinet to be held today, the government will discuss a proposal to cut the VAT tax on petrol-diesel. The Finance Department has also prepared a note to assess the pressure on the exchequer due to this deduction. It is believed that this resolution can be passed unanimously.

According to the Finance Department, if the state government cuts the price of petrol by Re 1 per liter, then the burden of Rs 121 crore will fall on the government's coffers. On the other hand, if there is a deduction of ₹ 2 per liter, the Department has expressed the estimate that the extinguished will increase to Rs 243 crore.

Earlier, PM Modi had raised the issue of high oil prices in a meeting with the states on Wednesday. Referring to the high oil prices in many opposition states, the PM said that the states should cut VAT to give relief to the common man in this time of global crisis. He said that despite the central government reducing excise duty on oil in November last, the states did not cut VAT, which is an injustice to the people there.