Rahul Gandhi wants petrol, diesel brought under GST

Ahead of big festive season Capital hails much-needed relief

Ahead of big festive season Capital hails much-needed relief

Prior to Friday's cut, petrol price had risen by Rs 6.86 a litre and diesel by Rs 6.73 since mid-August - the most in any six-week duration after the daily price revision was introduced in mid-June a year ago. Meanwhile, in Mumbai, petrol prices saw a rise of 18 paise while diesel was hiked by 70 paise.

After this hike, Petrol is being retailed at Rs 81.68 per litre and Diesel is being retailed at 73.24 per litre in the National capital.

This announcement came in after Union Finance Minister Arun Jaitley, announced marginal relief for citizens from runaway fuel prices with excise duty cut of Rs. 1.50 and another Re. The chief minister said that the Maharashtra government has a positive stand on bringing petrol and diesel under the ambit of Goods and Services Tax. 1 drop by oil marketing companies, taking the cut in fuel prices to Rs. 2.50.

The Maharashtra government on Friday announced a relief of Rs1.56/litre on diesel prices. However, in Mumbai, the diesel have gone up by 7 paise only. Several states, including Gujarat, Assam, Uttar Pradesh, Chattisgarh, Jammu and Kashmir, and other slashed prices by as much as Rs 2.5 on the same day, expanding the effective relief to customers to Rs 5.

Petrol prices had hit an all-time high of Rs 84 per litre in Delhi and Rs 91.34 in Mumbai on October 4. Central excise duty on petrol and diesel was Rs 9.23 and 3.46 per litre respectively before 2014.

While the government's decision to cut taxes on petroleum products is a positive change, the move's impact could be limited if the crude price in the global market continues to go up and the rupee falls in near future. States saw their Value-Added Tax revenue rise from Rs 1,37,157 crore in 2014-15 to Rs 1,84,091 crore in 2017-18.

Recommended News

  • Brewers sweep Rockies to reach first NLCS since 2011

    Brewers sweep Rockies to reach first NLCS since 2011

    It was a repeat performance from last October's ALDS, when he made two starts against the Yankees and left with a 12.79 ERA. Christian Yelich , the odds-on favorite to win the National League MVP award, received his first taste of postseason play.
    Major Sponsors Worried About Rape Accusation Against Ronaldo

    Major Sponsors Worried About Rape Accusation Against Ronaldo

    EA has released a statement on those allegations, but nothing on removing the football star from the cover of its latest game. United States sportswear firm Nike say they are " deeply concerned by the disturbing allegations " facing Cristiano Ronaldo .
    Conservative Judge Brett Kavanaugh Confirmed After Heated National Debate

    Conservative Judge Brett Kavanaugh Confirmed After Heated National Debate

    U.S. president Donald Trump had nominated Kavanaugh on July 9, 2018, as a replacement of Associate Justice Anthony Kennedy. The investigation was wrapped up in about five days and it convinced Flake to back Kavanaugh.
  • U.S. Employment Rises Much Less Than Expected In September

    U.S. Employment Rises Much Less Than Expected In September

    Friday's report revised August's count of new jobs from 201,000 to 270,000, while July's tally was revised from 165,000 new jobs. Our research shows that the potential labor supply is sizable and elastic, especially along prime working-age persons.
    Construction, health-care jobs fuel big employment in capital region

    Construction, health-care jobs fuel big employment in capital region

    Around 13,000 jobs were added in finance, insurance, real estate and rental and leasing, mostly in Ontario and Alberta. It quickly gave up all the gains as USA data showed the unemployment rate fell to near a 49-year low of 3.7 percent.
    'A profoundly heart-breaking day': Celebration and anger for Brett Kavanaugh confirmation

    'A profoundly heart-breaking day': Celebration and anger for Brett Kavanaugh confirmation

    Mr Schumer said that for all those who opposed the nomination, "there is one answer - vote" in the November mid-term elections. Kavanaugh was sworn in Saturday evening in a private ceremony as protesters chanted outside the court building.
  • Kershaw, Dodgers blank Braves for 2-0 lead

    Kershaw, Dodgers blank Braves for 2-0 lead

    It concluded when he gave up four runs and six hits in five innings, including two home runs, in a 4-1 loss to the Dodgers. It would be surprising to see Kershaw lose this one, but it's baseball, and we all have learned to expect the unexpected.
    Officer Who Shot Laquan McDonald Charged With Second Degree Murder

    Officer Who Shot Laquan McDonald Charged With Second Degree Murder

    Officials in Chicago had braced for potential unrest after the verdict, especially if jurors found Van Dyke not guilty. This Oct. 5, 2018 photo provided by the Cook County Sheriff's Office in Chicago , Ill., shows Jason Van Dyke .
    Donald Trump: Africans Love Melania

    Donald Trump: Africans Love Melania

    The first lady thanked educators for helping the children " be best " throughout their school experience. Malawi's schools have received some 9.6 million books under the programme in the past few years.
  • Packers' Randall Cobb ruled out against Lions

    Packers' Randall Cobb ruled out against Lions

    Twenty, probably more, from the hash mark nearly all the way to the far sideline, where he finally caught up to Aaron Rodgers . It was the most receiving yards Adams had in a game aside from his 156-yard outing against Tennessee on November 13, 2016.
    EU Praises Nobel Prize Awarded to Fighters against Sexual Violence

    EU Praises Nobel Prize Awarded to Fighters against Sexual Violence

    You had situations where multiple people were raped at the same time, publicly - a whole village might be raped during the night. Opened in 1999, the clinic treats thousands of women each year, many of them requiring surgery from sexual violence.
    Ferrari and Sebastian Vettel: A partnership destined to fail from beginning

    Ferrari and Sebastian Vettel: A partnership destined to fail from beginning

    As his chances of pipping Hamilton to a fifth Formula One crown slip away, Vettel was still seething after the race. But I think we have gone from strength to strength this year as a team , so I really hope that we can [win].

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.