Goa government on Friday partially slashed the hike in fuel prices, reducing the Value Added Tax (VAT) on petrol, diesel and LPG.
The petrol will be cheaper by 84 paise per litre, diesel by 64 paise per litre and LPG by Rs 10 per domestic cylinder.
Announcing this at a press conference on Friday evening, Chief Minister Digamber Kamat said the state would bear revenue loss to the tune of Rs 20 crore annually.
Kamat said that VAT levied on petrol was reduced from 22 per cent to 20 per cent, diesel 21 per cent to 19 per cent and LPG from four per cent to nil.
"These prices will come in effect immediately and we are issuing the notification now," the Chief Minister said.
He said that the petroleum prices in Goa will be cheaper compared to neighbouring Maharashtra, which has done similar tax reduction at the state level.
