It is learned that the Center is actively considering reducing taxes on petroleum products in the four states and Union Territories where the elections are to be held.
It is learned that the Center is actively considering reducing taxes on petroleum products in the four states and Union Territories where the elections are to be held. Opposition parties have stated they will not run in the by-elections. Opposition parties in Parliament are already urging the Modi government to take action. Chairman Venkaiah Naidu has had to adjourn the House several times, especially due to protests by opposition members in the Rajya Sabha. Prices of petro products in the country have been skyrocketing for the past few months. In states like Rajasthan and Madhya Pradesh, a liter of petrol costs around Rs 100. Also, a liter of diesel costs Rs 80. The prices of essentials are also going up due to the increase in their prices. Naturally, this has become a priority for the Center and the states as taxes on petro products are the most important source of revenue. The Center is likely to focus on raising prices due to the funding crunch caused by the Kovid pandemic. Last year
It is estimated that the Center and the states will get an annual revenue of Rs 5.5 lakh crore from the imposition of taxes on fuel. Elections will be held soon in 4 states and one union territory. Reward it. It seems that the Center, especially the BJP government, is actively considering reducing taxes on petro products to counter opposition campaigns and is getting ready for talks with the respective state governments on this. The government hopes that a reduction in taxes will reduce their prices, which in turn will increase their chances of success.
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