After the Delhi government’s decision to raise value -added tax (VAT) on petrol and diesel, the national capital saw a huge spike in the prises of these two fuels on Tuesday.
Petrol prices were raised by Rs 1.67 a litre while diesel went up by a huge Rs 7.10 per litre hike, after the increased VAT on auto fuels.
Now the cost of petrol per litre is Rs 71.26 which was previously sold at Rs 69.59. While the diesel’s cost is Rs 69.39 per litre now for consumers from the previously amount of Rs 62.29 per litre.
The Delhi government has raised VAT on these fuels by almost 30 per cent.
The move to hike fuel prices is expected to boost the government revenue, which has been hit hard due to the coronavirus lockdown.
The state government had on Monday night announced that it will impose a 70 per cent tax as ‘Special Corona Fee’ on liquor.
With some tough measures to improve the finances of the state’s exchequer, deputy Chief Minister Manish Sisodia, who also holds the portfolio of Finance Minister, wrote on Twitter, “Life isn’t all about rainbows and sunshine. Tough times need Tough solutions – my learning as Finance Minister.”
Life isn’t all about rainbows and sunshine. Tough times need Tough solutions – my learning as Finance Minister
— Manish Sisodia (@msisodia) May 5, 2020