19.7 C
California
Thursday, October 22, 2020

Fearing Revenue Loss, Assam Govt Hikes Petrol, Diesel Prices Amid Lockdown


Guwahati: The Assam government has increased the prices of petrol and diesel predicting at least 50 per cent revenue loss due to cut in oil prices in the international market following a crisis triggered by the outbreak of COVID-19, Assam’s Finance and Health Minister Himanta Biswa Sarma said on Wednesday. Also Read – Coronavirus Getting you Down? Watch How Assam Police Beat The Stress With Bihu Dance

The state government issued a notification on Tuesday notifying that the VAT (Value Added Tax) for diesel has been fixed at 23.66 paise in the rupee or Rs 17.45 per litre, whichever is higher, and VAT for petrol and other motor spirits at 32.66 paise in the rupee or Rs 22.63 per lire, whichever is higher. Also Read – After Delhi, Now Assam to Conduct COVID-19 Tests on Media Persons on April 25

The notification issued by the Finance (taxation) Department under the provision of the Assam Value Added Tax Act, 2003, came into effect from midnight on April 22. Also Read – Allegations Against Chinese PPE Quality Baseless But We Won’t Use, Says Assam Minister

While talking to the media on Wednesday, Sarma said that due to a decrease in international oil prices, it would affect the revenue immensely in Assam as the state getting royalty for oil from Oil and Natural Gas Corporation and Oil India Limited. “Assam earns an average of Rs 166 crore monthly as royalty from the sale of oil. But because of prices coming down, that figure would be less than Rs 50 crore per month,” the minister said.

“The increase in prices of petrol/diesel is an effort to cover some losses and partially protect our revenue. This is a temporary measure and there will be a roll-back once the coronavirus crisis ends,” Sarma said.

To a question, the Minister said that due to lockdown, most people are unable to use their own vehicles and two-wheeler and also the owners of the other vehicles — trucks, buses and small running their automobiles in a limited way, people at large would not be affected. “Pain has to be shared by every one to overcome the crisis,” Sarma remarked.


Speak Your Mind

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Get in Touch

211FansLike
35FollowersFollow
41FollowersFollow

Recommend for You

Dr. Fauci says his kids aren’t coming home for Thanksgiving as Americans ‘sacrifice’ holiday gatherings to stay safe from coronavirus

Director of the National Institute for Allergy and Infectious Diseases Dr. Anthony Fauci testifies before the House Committee on Energy and Commerce on the...

WHO concerned about Europe’s coronavirus outbreak as ICU beds near capacity in some regions

A member of the medical staff treats a patient suffering from the coronavirus disease (COVID-19) at the Intensive Care Unit (ICU) of the Slany...

Aditya Narayan Denies ‘Bankruptcy’, Says Was Touched When Industry Friends Offered Help

Aditya Narayan has refuted reports claiming that he has gone bankrupt and is having a tough time to make ends meet. Earlier this week...

Related Articles

Government’s Rs 50,000 crore electronic incentive schemes expected to...

New Delhi: The government on Tuesday said that the trio of electronic incentive schemes...

Health Officials Say ‘Ventilators’ Donated By Tesla Are Wrong...

After NYC Health + Hospitals posted this image on...

GST reduced tax rates, doubled taxpayer base to 1.24...

NEW DELHI: The finance ministry on Monday said GST has reduced the rate at...