The Government of Puducherry has decided to reduce Value-Added Tax (VAT) by 3 percent in petrol. The government took this decision in a cabinet meeting. State's Lieutenant Governor Tamilisai Soundararajan has passed it.
 
After this reduction, the price of petrol in the Puducherry and Karaikal regions will be reduced by Rs 2.43 per liter. Thus, the price of petrol in Puducherry is estimated to be Rs 99.52 per liter and in Karaikal Rs 99.30 per liter.

Finance Minister Nirmala Sitharaman recently refused to reduce the excise duty on petrol and diesel. The prices of petrol and diesel have reached an all-time high.

The previous Congress-led UPA government used to sell petrol and diesel as well as cooking gas and kerosene at subsidized rates.

When crude oil prices reached $100 a barrel in the international market, the government issued oil bonds worth Rs 1.34 lakh crore to state fuel retailers.

News Source: Latestly

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