The rates are given as Delhi, petrol cost Rs.58.91 per litre and diesel costs Rs.48.26.Mumbai, petrol costs Rs. 66.36 and diesel Rs.55.47. Chennai, petrol costs Rs 61.38 and diesel Rs 51.34. Kolkata, petrol costs Rs 66.64 and diesel Rs 52.99. Bangalore, petrol costs Rs 64.72 and diesel Rs 52.49.
The centre also resorting to ‘back door taxation’ increasing excise duty on rupee terms and not on percentage tems.It suppose to cut Rs 4 from Saturday on petrol and Rs 2 excise duty hike and Rs 2 on VAT hike by the government negated the reduction in fuel prices.
The 31% VAT is already collected by the government and it’s highest in the country. And no increase on quantum of VAT but only Rs 2 hike on retail prices. Whenever 1re reduction in fuel prices the TS Govt losing nearly Rs 7 crore per month.
With petrol prices coming down by over Rs 15 per litre since August last, the government lost nearly Rs 500 crore. The total loss for TS for the financial year 2014-15 has been pegged at Rs 1,500 crore. VAT is the major revenue source for the state and the governments is striving to recover these losses. It has added to the woes of TS which is already reeling under financial crisis.