Maharashtra cuts VAT on petrol by Rs 5/litre, on diesel by Rs 3/litre

(Representative Image)

Maharashtra Chief Minister Eknath Shinde has announced a cut in value added tax (VAT) of Rs 5 per litre on petrol and of Rs 3 per litre for diesel.

The price cut was announced by the CM after the state Cabinet meeting at Mantralaya on July 14, ANI reported.

Devendra Fadnavis, Deputy Chief Minister of Maharashtra hailed the decision as a “great relief to Maharashtrian and Marathi Manus”.

“Happy to announce that new government under CM Eknathrao Shinde has decided to reduce petrol & diesel prices by Rs 5/litre & Rs 3/litre respectively,” he tweeted. Fadnavis said that the state will carry the burden of Rs 6,000 crore for this decision.

He added that the step comes after appeal made by Prime Minister Narendra Modi for benefit to common citizens.

Hardeep Singh Puri, Union Minister for Petroleum and Natural Gas also chipped in, calling the move a "welcome decision" in a tweet.

A welcome decision!
In a big relief to consumers of #Maharashtra #PetrolPrice reduced by ₹5/ltr & #diesel by ₹3/ltr. This in addition to excise duty cut by centre in Nov & May to protect our people from rising prices. Hope opposition states also bring down #PetrolDieselPrices

— Hardeep Singh Puri (@HardeepSPuri) July 14, 2022