Price of petrol in the national capital has increased by Rs 1.67 to Rs 71.26 per litre and diesel by Rs 7.10 to Rs 69.29 per litre, compared to May 4.
This after the Delhi government increased value-added tax (VAT) on the auto fuels to 30 percent each. Up from 27 percent to 30 percent for petrol, and up from 16.75 percent to 30 percent for diesel.
For diesel fuel, the increase is almost double the previous VAT.
The move comes close on the heels of the state government imposing a 70 percent 'Special Corona Fee' on sale of liquor in the city. The fee has been imposed on the maximum retail price (MRP) of liquor bottles. The new rate will be applicable from May 5.
Frequently Asked Questions
A vaccine works by mimicking a natural infection. A vaccine not only induces immune response to protect people from any future COVID-19 infection, but also helps quickly build herd immunity to put an end to the pandemic. Herd immunity occurs when a sufficient percentage of a population becomes immune to a disease, making the spread of disease from person to person unlikely. The good news is that SARS-CoV-2 virus has been fairly stable, which increases the viability of a vaccine.
There are broadly four types of vaccine — one, a vaccine based on the whole virus (this could be either inactivated, or an attenuated [weakened] virus vaccine); two, a non-replicating viral vector vaccine that uses a benign virus as vector that carries the antigen of SARS-CoV; three, nucleic-acid vaccines that have genetic material like DNA and RNA of antigens like spike protein given to a person, helping human cells decode genetic material and produce the vaccine; and four, protein subunit vaccine wherein the recombinant proteins of SARS-COV-2 along with an adjuvant (booster) is given as a vaccine.
Vaccine development is a long, complex process. Unlike drugs that are given to people with a diseased, vaccines are given to healthy people and also vulnerable sections such as children, pregnant women and the elderly. So rigorous tests are compulsory. History says that the fastest time it took to develop a vaccine is five years, but it usually takes double or sometimes triple that time.
Both the developments are expected to boost state revenue, which has taken massive hits due to the extended COVID-19 lockdown.
The lockdown, which began from March 24 midnight, and now extended till May 17, eroded India's fuel consumption by almost 70 per cent in April, PTI reported.
Industry data however, shows improvement in demand in the last 10 days of April as some restrictions were eased. The demand is expected to further pick up as more areas were opened up on May 4.