Petrol touches Rs.90.11/litre in Maharashtra’s Parbhani

Petrol touches Rs.90.11/litre in Maharashtra’s Parbhani

Naidu, who has been mounting pressure on the centre to reduce the fuel prices for a while, said going by the indicators the petrol and diesel prices may soon hit Rs 100 a litre and the Rupee value may fall to Rs 100 against the USA dollar. The hike of 48 paise a litre for petrol and 47 paise for diesel is the steepest increase since the daily price revision came into effect over 14 months ago.

Addressing the Assembly, chief minister Naidu said the value added tax on diesel and petrol are being slashed by half from Rs 4 a litre now, causing Rs 1,120 crore of additional burden on the exchequer of the already financially crippled state. While a cut in excise duty that the central government levies will impact fiscal deficit, states like Bihar, Kerala, and Punjab are not in a position to cut sales tax (or VAT), the official, who wished not to be identified, said. At the same time, the diesel prices too marched ahead and was priced at Rs 78.83 per litre. "Under Modi, the country has reached a low", Leader of Opposition Ramesh Chennithala said while inaugurating his party's protest in Kochi. The nationwide bandh affected the bus and train services.

The Congress party, along with other Opposition parties, had called a nationwide strike across the country on Monday to protest against fuel price hike and the falling value of the rupee against U.S. dollar.

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Fuel prices continued to inch up on Tuesday despite the opposition's Monday's Bharat Bandh against rising petrol and diesel prices. On Monday, Andhra Pradesh government announced a reduction of tax on petrol and diesel by Rs 2 a litre.

The fuel rates have been on fire since mid-August, rising nearly every day due to a drop in rupee value and rise in crude oil rates.

Addressing the Legislative Assembly, the AP chief minister N Chandrababu Naidu accused the BJP government at the centre for not considering to reduce fuel prices despite earning large sums through various taxes. Union Minister Ravi Shankar Prasad said: "Everyone has a right to protest but what is happening today?" BS Photo by Kamlesh Pednekar Hike in petrol price on the day oppn parties protesting shows govt's insensitivity: Akhilesh Samajwadi Party supremo Akhilesh Yadav said hike in prices of petroleum products on the day opposition parties staged "Bharat Bandh' shows government's "insensitivity" towards common people".

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