The Puducherry government Today said the territorial administration has cut value-added tax (VAT) on petrol by 3%.
As per Indian Oil’s website, the petrol currently retails at Rs 101.81 a litre and diesel costs Rs 92.73 in Puducherry.
The decision on the reduction was taken by Chief Minister N Rangasamy at a meeting of the territorial cabinet earlier today and was approved by Lieutenant Governor Tamilisai Soundararajan, said an official press release here.
With the cut, the price of petrol would be reduced by Rs 2.43 per litre in Puducherry and Karaikal regions.
Earlier, Tamil Nadu had announced a similar tax cut on petrol. The Tamil Nadu government had reduced tax by Rs 3 per litre on petrol.
Union Finance Minister Nirmala Sitharaman recently ruled out a cut in excise duty on petrol and diesel to ease prices, which have touched an all-time high, saying payments in lieu of past subsidised fuel pose limitations.
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