Tamil Nadu slashes petrol prices by Rs 3 per litre
Photo: The English Post
Photo: The English Post
Chennai | Braving a loss of Rs 1,160 crore a year revenue, Tamil Nadu Finance Minister Palanivel Thiaga Rajan on Friday announced his decision to cut the effective rate of tax on petrol by Rs 3 per litre, thereby providing major relief to the toiling working class people in the State.
Contrary to the ‘once in a generation reforms a must’ statement made in the White Paper on the state finances, Rajan presented a relatively populist budget by not just reducing taxes on petrol, but also waiver of cooperative loans to self help groups, and tax amnesty scheme among others.
Fuel prices have been going up across the country and has touched Rs 100/litre. The DMK had promised to reduce petrol price by Rs 5/litre if voted to power. Now with the Rs 3 cut per litre, some relief will be offered to the consumer.
IANS
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