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The
tax on petrol has been reduced by 3 per cent and that of
diesel by 2 per cent, while VAT on LPG was brought down from 4
per cent to 1 per cent, Shoba Karandlaje told reporters after
a Cabinet meeting today.
Consequently,
prices of petrol would come down by Rs 1.35 to Rs 57.15 per
litre from the existing rate of Rs 58.50 per litre. Diesel
would come down by 65 paise to Rs 39.15 per litre from Rs
39.80 per litre, Karandlaje said.
LPG
would see a price reduction of Rs 10.34 to Rs 348.08 from the
current Rs 358.42 per cylinder, she added.
The
new prices would come into effect from tomorrow, the minister
said.
She
said the prices cut would cost the state exchequer Rs 275
crore revenue annually.
The
Union Government had earlier this month hiked petrol, diesel
and LPG prices.
Several
states have, thereafter, reduced taxes on petrol, diesel and
LPG to lessen the burden of the price hike on consumers.
Source
: Hindu - Chennai, India, dated 19/06/2008
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