Madhya Pradesh government has chose to reduce three per cent Value-Added Tax on petrol and five per cent Value-Added Tax on diesel.
Madhya Pradesh has cut the sales tax or VAT on petrol and diesel by up to 5 per cent after Gujarat, Maharashtra and Himachal Pradesh, following Centre' instruction. Gujarat levied 28.96% VAT on petrol and diesel prior to the tax cut.
An additional Rs. 1.50 have also been reduced on the same.
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The revised rates will be applicable from Friday midnight, he said. "But the BJP state government treats petrol and diesel as a profit-making venture levying a hefty Value-Added Tax of 31% on petrol and 27% in diesel", Mishra said. Similarly, diesel will be sold at Rs 59.37 per litre against the existing rate Rs 63.31 per litre. The decision would cause a revenue loss of about Rs 1,000 crore to the state exchequer in the remaining six months of the current fiscal, he said.
"The decision to cut the prices was taken to provide relief to the common man, besides keeping the needs of farmers in mind".
However, state Congress spokesman Pankaj Chaturvedi said the government's move to cut the prices was just an eyewash. "Presently, the global prices of crude oil is between $42 to $47 per barrel and fuel prices should be as low as Rs 45 to Rs 50". This reduction hardly means anything. "During the UPA government regime under Prime Minister Manmohan Singh, the global crude oil prices were as high as $72 to $75 per barrel and yet prices of fuel were not as high as it is today", Mishra argued.
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