Fuel prices not dropped naturally, Kerala also slashed tax: Finance Minister

KN Balagopal | Photo: Mathrubhumi

Kochi: Finance Minister KN Balagopal has claimed that the state government also took action to cut the fuel prices after the central government slashed the excise duty. Addressing the media here, the minister pointed out that fuel prices dropped in Kerala as the state government also reduced the tax.

“ The fuel prices have fallen in the state not because of the centre reduced the excise duty. The state government also reduced the tax on petrol and diesel price,” he pointed out.

Oommen Chandy government increased the tax on fuel prices multiple times. But the Pinarayi Vijayan government slashed the tax on the third year. We did n’t increased the tax later, pointed out the minister.

“ When the central government announced cut in excise duty on fuel prices, we also decided to cut the tax. It is a fact. When the UDF government led by Oommen Chandy was on power, they increased the tax on fuel around 10-18 times. But Pinarayi Vijayan government which came into power in 2016 never increased the tax. In 2018, we slashed the tax,” KN Balagopal said.

On Saturday, the Kerala government announced a cut in tax on the prices of petrol and diesel by Rs 2.41 and Rs 1.36 respectively after the centre announced reduction of fuel prices.

"Kerala government announces cut in tax on petrol and diesel by Rs 2.41 and Rs 1.36 respectively," state Finance Minister KN Balagopal said.

Earlier on Saturday, in a significant step aimed at providing relief to people from high fuel prices, the Centre announced a reduction in excise duty on petrol by Rs 8 per litre and on diesel by Rs 6 per litre.

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