There is good news for vehicle users in Uttar Pradesh as the prices of petrol and diesel have come down by Rs 5 per litre with immediate effect after the Yogi Adityanath government announced a waiver of Rs 2.50 per litre on the fuel.
After the Centre reduced the excise on petrol and diesel by Rs 2.50 per litre, Chief Minister Yogi Adityanath announced a similar cut in the state taxe to double the relief to consumers.
Addressing reporters here on Thursday, the Chief Minister said that though the state would suffer a financial loss of Rs 4,000 crore due to reduction of taxes on petrol and diesel, it would manage the loss through other sources.
“Now the prices of petrol in UP will be Rs 78.44 per litre and of diesel Rs 70.44 per litre after the reduction of taxes by the Centre and the state government,” he said.
The Chief Minister also thanked Prime Minister Narendra Modi for the initiative that would benefit the masses even when the crude oil prices in the international market were very high.
He further said that UP had always showed that it was concerned for the people by not raising the tax on petroleum products for the past several years and its tax rate was lower than most of the states.
“But the decision to further reduce the tax has been taken in view of the problems faced by the people,” he said.
Meanwhile, Bharatiya Janata Party state president Mahendra Nath Pandey hailed the Centre’s decision, saying it would benefit the people.
“This decision of Prime Minister Narendra Modi and Chief Minister Yogi Adityanath shows that the BJP governments at the Centre and the state are sensitive towards people and do not hesitate in taking decisions that help the people,” he said.