The Delhi Cabinet has decided to slash Value Added Tax (VAT) rates on diesel effectively reducing its price to ₹73.64 down from ₹82 per litre, Chief Minister Arvind Kejriwal announced here Thursday.
According to Mr. Kejriwal, the reduction of VAT from 30% to 16.75% would lead to a reduction in the per litre cost of the fuel by ₹8.36 per litre.
“The step has been taken in consultation with several stakeholders and is part of the Delhi government’s bid to lend a push to the city’s economy,” Mr. Kejriwal said during a digital briefing.
The Delhi government had, on May 4, ordered an increase in VAT on petrol to 30% from 27% and on diesel to 30% from 16.75%. The order had come into effect the following day and was in response to dipping state revenue on account of the national lockdown to contain the COVID pandemic.
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