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This article is more than 1 year old.

Govt says no proposal to reduce taxes on petrol, diesel

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Finance Minister Nirmala Sitharaman said that there is no proposal to reduce taxes on petrol and diesel.

Govt says no proposal to reduce taxes on petrol, diesel
The government on Monday said there is no proposal to reduce taxes on petrol and diesel. Finance Minister Nirmala Sitharaman told the Lok Sabha that no where in the world do the prices of petrol and diesel remain steady for a particular period of time. To a query on whether petrol and diesel would be brought under the Goods and Services Tax (GST) regime, she said that in a way, they are already under the zero rate category of the GST. The rates have to be decided by the GST Council, she noted.
The council, chaired by the Union Finance Minister, has ministers in-charge of finance or taxation from all states as members.
"At present, there is no proposal to reduce taxes on petrol and diesel," Sitharaman said in response to a question on whether the government proposes to reduce taxes so that prices of petrol and diesel would come down.
To another query, the minister said that at present, no new tax on petrol and diesel is being considered.
The central government imposes various central excise and custom duties on petrol and diesel. Besides, state governments levy taxes on them.
When asked whether small farmers would be given subsidy on diesel, Sitharaman said the Centre and the state governments tax at different levels.
Petrol, diesel prices remain unchanged
After three consecutive days of increase in the price of petrol, there was no change in its price on Monday. The diesel prices continue to remain stable for the past three days.
The petrol price on Sunday was increased by five paise in Delhi, seven paise in Kolkata, while in Mumbai and Chennai it rose by eight paise per litre.
The petrol price has increased by Rs 2.31 per litre in Delhi after November 7 when it was priced at Rs 72.60 per litre. Currently, the price of petrol in the country is at an all time high in the past one year.
According to the Indian Oil website, petrol prices in Delhi, Kolkata, Mumbai and Chennai were Rs 74.91, Rs 77.61, Rs 80.59 and Rs 77.91 per litre respectively.
In the four metros, the price of diesel remained unchanged at Rs 65.78, Rs 68.19, Rs 69 and Rs 69.53 per litre respectively.
-with inputs from PTI and IANS