Maharashtra: Petrol, Diesel prices increased by Rs two

Petrol Pump Pune

Support Our Journalism Contribute Now

Pune, May 31, 2020: The Maharashtra state government has hiked petrol and diesel prices by Rs 2 per litre to fill the financial ‘gap’ created by the Coronavirus outbreak lockdown. For revenue, it has been decided to increase the value-added tax (VAT) on petrol and diesel by Rs 2 per litre each. From Monday (June 1), petrol and diesel prices will go up by Rs 2 everywhere in the state.

The implementation of the lockdown started from March 25 across the country. Industry, business, transport, all economic activities were affected due to this and the revenue falling in the state treasury was cut off. This created the need for measures to increase the revenue of the state. With the Goods and Services Tax (GST), the state government has little choice but to raise other taxes. So the finance department took this decision.

The average monthly sales of petrol and diesel in the state are 11 lakh 66 thousand kilolitres. One kilolitre is one thousand litres. This means that about 1 crore 39 lakh 92 thousand kilolitres of petrol-diesel is sold in the state every year. In 2019-20, the state government had collected a total of Rs 24,900 crore from value-added tax (VAT) on petrol and diesel.

Punekar News is now on Telegram. For the latest Pune, Pimpri Chinchwad PCMC news, Like our Facebook Page, follow on Twitter and Instagram and also subscribe to Punekar News on Telegram.