The Congress-JDS government in Karnataka on Friday increased tax rates on petrol and diesel to 32 per cent and 21 per cent respectively, citing adverse impact on the state revenue collection due to continuous fall in the prices of crude oil in international market.
Prior to the revision, the tax rates on petrol and diesel were 28.75 per cent and 17.73 per cent, respectively. The revised rates for petrol and diesel are Rs 70.84 per litre and Rs 64.66 per litre, respectively.
The revision has been made due to continuous fall in the prices of crude oil in international market from past two-and-a-half months, which has resulted in base price of both fuels plummeting substantially, causing adverse impact state’s revenue collection, the chief minister’s office said in a statement.
Despite the revision, the retail price of petrol and diesel in Karnataka are lower compared to neighbouring states, considering the base Read More