After Gujarat and Maharashtra, Madhya Pradesh slashes Value-Added Tax on petrol and diesel

After Gujarat and Maharashtra, Madhya Pradesh slashes Value-Added Tax on petrol and diesel

While VAT on petrol has been reduced by 3%, the same on diesel has gone down by 5%.

Madhya Pradesh has reduced 5% Value-Added Tax on Diesel and 3% on Petrol and the new prices will be coming into affect by midnight, said Chief Minister Shivraj Singh Chauhan in a statement on Friday. Prices started surging June end onwards and climbed up to a three-year high.

The uptick in petrol and diesel prices weighed heavy on consumer inflation in September, contributing to 5.56 per cent of the index.

After Gujarat and Maharashtra, Madhya Pradesh became the third BJP-ruled state to slash value added tax (VAT) on petrol and diesel. On October 9, Bihar Chief Minister Nitish Kumar had said that his government will appeal to the Centre to lower the "base price" of petrol and diesel which stands at Rs 55 a litre in the eastern Indian state.

In Bhopal, petrol will now cost Rs 73.13 per litre against the earlier price Rs 74.79 per litre. "We will make a strong plea to the Union Petroleum Ministry to lower this base price", Nitish Kumar said.

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