Imphal: Manipur government on Thursday announced a cut in the value added tax (VAT) levied on petrol and diesel with immediate effect.
The cut in the VAT came up on the same day the Central government announced a cut in the excise duty on petrol and diesel.
The Finance department of the Manipur government issued a notification regarding the cut in the VAT on petrol and diesel by Rs 7 each with immediate effect.
As such, the effective reduction in price of petrol will be Rs 12 per litre and Rs 17 per litre for the diesel.
The price of petrol as on November 3 was Rs 111.35 per litre while that of diesel was Rs 99.39 per litre. After the cut in the VAT, petrol will cost Rs 99.38 per litre and diesel Rs 82.51. However, the order will be effective from today (November 4), a press release of the Manipur Finance department said.
The state government took the decision to cut the VAT in close cooperation and coordination with the central government.
The press release said that the rise in the international oil price in recent weeks had put a burden on the public due to the rise in price of petrol and diesel.
Understanding the difficulties faced by the public and with an intention to prevent inflation and also maintain economic growth the government of India had reduced the Central excise duty on petrol by Rs 5 per litre and on diesel by Rs 10 per litre, with effect from November 4.
To mention here, like in other parts of the country, the prices of petrol and diesel in the state increased in the last eight days, touching Rs 111.41 for petrol and diesel Rs 99.39.
Chief minister N Biren Singh welcomed the Centre’s decision of cutting the excise duty on petrol and diesel.
“Heartily welcome PM Narendra Modi Ji’s decision to reduce excise duty on petrol & diesel as a gift to the people of this Nation on this Diwali,” he posted on a Facebook post today.