On Thursday, at a press conference, Delhi Chief Minister Arvind Kejriwal announced that the Delhi Cabinet has decided to reduce VAT (Value Added Tax) on the prices of diesel. The VAT will cut down from 30 percent to 16.75 percent, which will result in the price drop by Rs 8.36/litre. The current price of diesel is Rs 82, which will be henceforth reduced to Rs 73.64. There was although no change in the price of petrol and remains the same at Rs 80.43/litre.
Even in the prevailing situation of the pandemic, where the economy is struggling and facing challenges to revive it, such a decision has been taken by the Delhi government in the belief that with the cooperation of all the people revival can surely be achieved. The process of healing the economy through such initiatives might run slow, but it will be effective in the long term.
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Previous Price Records of both Petrol and Diesel
On June 7th, after hiatus of 82 days, the diesel prices marked its highest price ever at Rs 81.94 with an increase by 16 paise per litre In the National Capital. From then, there has been Rs 9.17 rise in petrol and Rs 11.14 rise in diesel. The price of petrol which was previously Rs 79.92, on June 26th, had increased to Rs 80.13. The rate of diesel had increased 24 times while the petrol price had risen 21 times the rate, however, varied from one state to another, relying upon the amount of local VAT.
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