Petrol, diesel price hike temporary, says Assam minister; cites fall in monthly revenue

Assam finance minister Himanta Biswa Sarma has stated that authorities’s determination to hike costs of petrol and diesel is an effort to guard the state’s income.

“The increase in prices of petrol/diesel is an effort to cover some losses and partially protect our revenue. This is a temporary measure and there will be a roll-back once the coronavirus crisis ends,” Sarma stated on Wednesday.

The minister additionally stated that on account of Covid-19 lockdown, most individuals are unable to make use of their very own autos and two-wheeler and in addition the house owners of the opposite autos – like vehicles and buses – operating their vehicles in a restricted method, folks at giant wouldn’t be affected.

“Pain has to be shared by every one to overcome the crisis,” Sarma remarked.

Assam earns a median of Rs 166 crores month-to-month as royalty from sale of oil. But on account of costs coming down that determine could be lower than Rs 50 crore per 30 days, he added.

The state authorities issued a notification on Tuesday notifying that the VAT (Value Added Tax) for diesel has been fastened at 23.66 paise within the rupee or Rs 17.45 per litre, whichever is larger, and VAT for petrol and different motor spirits at 32.66 paise within the rupee or Rs 22.63 per lire, whichever is larger.

With this, the worth of petrol elevated from Rs 71.61 to Rs 77.46 per litre and of diesel from Rs 65.07 to Rs 70.50 per litre.

The revised charges have come into impact from April 22 midnight.