After the Centre’s decision to reduce excise duty on fuel, coupled with cut in VAT on fuel by neighbouring states of Haryana and UT Chandigarh, the Punjab Government is also examining reduction in VAT on petrol and diesel.
“The issue would be discussed in the Cabinet meeting,” said Finance Minister Manpreet Singh Badal on Friday.Manpreet, who is state’ Finance and Taxation Minister, said the Punjab Government is also keen to slash prices of petrol and diesel to give more relief to people but final decision would be taken in Cabinet meeting, scheduled to be held on Saturday. “The State Government has to take care of every sector including education, health, electricity, police, and infrastructure development and to run several social welfare schemes for the people.
The Union Government charges more taxes on petrol and diesel in comparison with states,” he said adding that Punjab Government is very much keen to minimise prices of petrol and diesel and reduction would be announced in the Cabinet meeting.
Notably, the Central Government reduced excise duty on petrol and diesel on November 3, just a day before Diwali. Following footsteps, many states including Uttar Pradesh, Haryana, Himachal Pradesh, and Bihar gave great relief to people by reducing VAT.
