Chinmaya IAS Academy – Current Affairs Chinmaya IAS Academy – Current Affairs
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Karnataka is likely to follow Rajasthan, Andhra Pradesh, and West Bengal that have reduced State taxes on petroleum products to provide relief to motorists, who have been hit hard by their rising prices. The State government may take a decision on the issue in a day or two, based on a proposal from the Finance Department.
Chief Minister H.D. Kumaraswamy had last week stated that he would discuss the issue with the Finance Department. Sources in the Chief Minister’s Office (CMO) said the department had been instructed to propose a cut between Rs. 2 and Rs. 2.50 a litre. “The Finance Department is likely to propose the price cut band on Monday, following which the Chief Minister will announce the price cut,” sources in the CMO said. On Sunday, the price of petrol and diesel in Bengaluru stood at Rs. 84.59 and Rs. 76.10 a litre, respectively. The Janata Dal (S)-Congress coalition was under pressure to announce a price cut as they were part of a nationwide protest against the rising fuel prices.
Source : https://www.thehindu.com/todays-paper/decision-on-cut-in-tax-on-petro-products-in-a-day-or-two/article24963699.ece
