Nagaland govt reduces taxes on petrol & diesel; Petroleum minister explains price hike

As fuel prices continue to surge all across India, Nagaland government on Monday has reduced taxes on petrol, diesel, and or motor spirits. tax rate for diesel has been cut down from Rs 11.08 to Rs 10.51 per liter or 17.50 percent to 16.50 percent per liter, tification said. This tification came into force with effect from midnight of February 22. 

Cabinet Minister for Petroleum & Natural Gas and Steel Dharmendra Prhan has said, "re are two main reasons behind fuel price rise. international market has reduced fuel production & manufacturing countries are producing less fuel to gain more profit. This is making consumer countries suffer. We have continuously been urging OPEC & OPEC+ countries that it should t happen. We hope re will be a change."

He ded, "For this, Centre & state governments collect tax. Spending on development work will generate more jobs. Govt has increased its investment & 34% more capital spending will be done in this budget. state govt will also increase spending. This is why we need this tax but re is also need for balance. I believe Finance Minister can find a way."

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Petrol & Diesel Prices In India

Petrol and diesel prices are continuously increasing for more than 10 days and in some states, price of petrol has even crossed Rs 100. Opposition parties have been holding protests in different parts of country over rise of prices of diesel and petrol.

A day after Mhya Presh, Maharashtra and Rajasthan witnessed highest petrol price with people paying Rs 98.64 per liter, Rs 97.30, and Rs 97.10 respectively, rates remained same on Tuesday, while  diesel prices also did t change. fuel rates in India are revised on a day-to-day basis at 6 am every day, so all dealers and petrol stations in country are updated with latest rate, even if it is a minute's variation in oil prices globally. variation in price of per barrel crude majorly reflects high or low in petrol rates. Compared to February 22, price for per barrel crude that was $59.25 has risen to $61.69 that is 4,467.39 in Indian rupees, on Tuesday.

As of w, it is uncertain as to when common man will be relieved from mounting hike in petrol prices. However, Union Finance Minister Nirmala Nirmala Sitharaman said that Centre and States will reach a consensus after a discussion, to derive a solution for rising petrol rates.

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