The Karnataka Budget 2020 on Thursday has proposed to hike the taxes on petrol and diesel by 3% to mop up additional resources in the face of unprecedented “financial difficulties”.
Presenting the budget 2020 in the assembly, Chief Minister B S Yediyurappa announced a tax on petrol and diesel are set to cost more in Karnataka from April 1. Enhancement of the rate of tax on petrol and diesel by 3%. By this measure, there will be an increase in the price of petrol by Rs.1.60 per litre and that of diesel by Rs.1.59 per litre.
Chief Minister B S Yediyurappa also announced that tax on petrol would be increased from 32 per cent to 35 per cent and diesel from 21 per cent to 24 per cent. Rate of tax on petrol and diesel were increased by three per cent making the fuel dearer by Rs 1.60 and Rs 1.59 per litre respectively.