Diesel price to come down by 37 paise in Delhi

Posted By: Religare
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Diesel price to come down by 37 paise in Delhi
The Delhi Assembly has approved the Delhi Value Added Tax (Second Amendment Bill) 2011 which is intended to cut the rate of diesel hence, the prices may be reduced by 37 paise a litre in the capital shortly.

Chief Minister Sheila Dikshit had stated that the prices will be reduced by 37 paise a litre with an aim to control the impact of the surge in the fuel prices.

But, the CM's decision was not able to be executed since some changes were necessary in the VAT Act in order to change the sale price of diesel.

Moreover, the rates of diesel price had risen to Rs 41.12 after the hike of Rs 3.37 a litre in June 2011.

The city government had arrived at the figure of 37 paise for cut in diesel prices by removing the 12.5 per cent VAT component.

Dion Global Solutions Ltd

Read more about: oil and gas, diesel, vat
Story first published: Tuesday, September 6, 2011, 12:30 [IST]
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