Centre to reduce tax to tackle oil prices as 5 states head to polls

New Delhi: As elections are around for five of the states, the centre has decided to reduce the tax to tackle oil prices. As per reports, the globally surging price for crude oil has also forced the government to make such a decision.

West Bengal, Kerala, Tamil Nadu, Assam and Puducherry are suiting up for elections which are to be held in the coming months. Parties are posing oil prices as the main issue in election campaigns in these states which is something BJP is struggling with.

That is why the BJP led government has now decided to reduce the taxes for now to save their neck.

The election code of conduct have been active since February 29. But since the oil price tax reduction is at the national level, it is believed that the code of conduct does not apply to it. In the country, 60 per cent of the currentretail price of petrol is tax while it is 54 per cent on diesel. 

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