Rajasthan govt cuts down VAT on petrol, diesel

In a bid to reduce the financial strain on the commoner, the Rajasthan government on Tuesday cut the Value-Added Tax (VAT) on petrol and diesel by Rs 4 and Rs 5 per litre, respectively. The decision was taken unanimously in the cabinet meeting on Tuesday. The updated price would be effective from Tuesday midnight. With this decision, the state would be faced with a loss of Rs 3,500 crore in its annual revenue.

The Centre, too, had cut down excise duty on fuel early this month to ease the pressure after the prices surged steadily, putting the commoner in misery.