The Delhi government, on December 1, has announced that it will be reducing the Value Added Tax or VAT on the petrol and diesel prices. The Delhi petrol prices have their VAT reduced from 30% to 19.40%. From December 2, the petrol prices will be reduced by almost 8 INR per litre.
The national capital will finally have the prices in petrol which can be availed by the common people of the nation. The prices will be effective quite soon. For the first time in the last few months, the people of the national capital have sighed in relief.
The Decreased Delhi Petrol Prices Have Been Helpful
The fuel prices had been the same over the last 27 days consecutively. The Delhi petrol prices have been quite high over the last few months. As the central government had reduced its prices over the last few weeks, it had been up to the state government to reduce the value added taxes. The state governments which are led by BJP had already reduced their VAT on the petrol prices.
The state government of Delhi has mentioned that they will be reducing their taxes as well. This will be to ensure that the state governments which are not led by BJP are also able to reduce the taxes on these necessary fuels.
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Will It Have Any Effect?
The significance of the fuel prices in the national capital is quite crucial. It will always indicate the state of the country’s economy in terms of basic and common fuels. The hikes in the petrol prices have been proof that the central government had tried to cushion the falling economy of the nation with the help of taxes imposed on the common people.
Do you think that the lowering of Delhi petrol prices will have some kind of effect on the national economy? We are interested to know your views in the comment section given below.
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