In a welcoming news, there will soon be a gradual reduction in the fuel prices giving a slight relief to the citizens.
This development comes as the Maharashtra Deputy Chief Minister announced to bring down the tax rates on diesel and petrol. The decision will be applicable only in the Mumbai metropolitan region, he added.
While presenting Budget 2024 for the state, Pawar said that the government will slash the value-added tax (VAT) on fuel in in the municipal areas of Mumbai, Thane and Navi Mumbai areas which will make petrol cheaper by 65 paise per litre and diesel by INR 2.60 per litre.
Read More: Maharashtra Budget 2024: Key Announcements For Women Empowerment & Better Facilities
"We are reducing the value-added tax on petrol and diesel by 1% and 3% respectively. With this, tax on diesel will be decreased from 24% to 21 % for Mumbai and neighbouring areas, while petrol being decreased from 26% to 25%, Pawar further explained.
Currently, the price of petrol in Mumbai, the financial capital of the country, is INR 104.21. At the same time, the price of diesel is INR 92.15.
After this new tax rates will be imposed, petrol prices will come down to INR 103.66 and the diesel rates will come down to INR 90.08.
Also Read: Maharashtra: Key Takeaways From INR 6,12,293 Cr Budget 2024-25
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