World News

Jharkhand govt cuts down petrol prices by Rs 25/L, new prices to be in effect from next year Jan 26

Hemant Soren, the chief minister of Jharkhand, announced on Wednesday that the state government will offer a significant discount on gasoline and diesel costs, but only for two-wheelers.

“The Jharkhand government has agreed to provide motorbike and scooter riders a 25 per litre petrol discount,” Soren was reported as saying by news agency ANI.

“Today’s gasoline and diesel prices are at all-time highs. This has an impact on both poor and middle-class households. Despite owning a motorcycle at home, a poor man is unable to ride it due to a lack of funds for gasoline. He can’t sell his produce since he can’t get it to the market “Soren stated in a notification posted on the Jharkhand chief minister’s office’s official Twitter account.

“As a result, if these ration card users fill up their motorcycle or scooter with gasoline, we will deposit a $25 per litre subsidy to their bank accounts. This subsidy is for 10 litres of gasoline per month for a family “Added he.

The adjustments will take effect on January 26 of the next year, according to the notification posted by Soren. Petrol was retailing for Rs 98.6 per litre on Wednesday. Two-wheeler owners could get fuel for around Rs 73.6 per litre if the petrol price stays the same until January 26.

The reduction in fuel prices in Jharkhand follows a reduction in excise tax on petrol and diesel by Rs 5 and Rs 10 per litre, respectively, by the Central government in November 2021.

The announcement came as the Soren administration’s two-year term came to an end today. After winning the assembly elections in 2019, his Jharkhand Mukti Morcha (JMM) swept to power.

The JMM earned a solid majority with 47 seats in the 81-member assembly, thanks to an alliance with Congress and Lalu Prasad’s Rashtriya Janta Dal (RJD).

While the JMM won 30 seats, the Congress and RJD gained 16, and two Jharkhand Vikas Morcha (JVM) MLAs eventually joined the Congress.

Jharkhand will have its fifth assembly election in 2024, together with Andhra Pradesh, since the state was formed from Bihar in 2000.

Following the national government’s lead, some state governments lowered the price of gasoline and diesel to make them more affordable to residents. More than 22 states and union territories have already implemented VAT reductions.

On Wednesday, fuel rates in several cities around the country remained steady, including the national capital Delhi, Mumbai, Kolkata, and Chennai. In New Delhi, the price of petrol is Rs 95.41 per litre, while the price of diesel is Rs 86.67 per litre. From midnight on December 1st, the Delhi government dropped the VAT on petrol from 30% to 19.4 percent, lowering the price by around Rs 8 per litre in the city.

The price of petrol in Mumbai fell to Rs 109.98 a litre on November 4, remaining unchanged for the day. The price of diesel remained unchanged at Rs 94.14 per litre.

Petrol and diesel rates in Kolkata stayed unchanged at Rs 104.67 and Rs 89.79 per litre, respectively. A litre of petrol was sold in Chennai for the same price of Rs 101.40. The price of diesel remained steady at Rs 91.43 per litre as well.

The central government had previously reduced fuel duty by Rs 5 per litre and diesel duty by Rs 10 per litre on November 3, 2021. As a result, many states and union territories reduced their local sales tax or value-added tax (VAT) to provide additional assistance to consumers.

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