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Bengal fails to reap full benefit of Re 1 tax cut as fuel prices surge across India

Bengal fails to reap full benefit of Re 1 tax cut as fuel prices surge across India
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Kolkata: People of Bengal did not derive the complete benefit of the tax reduction given by the state government on petrol and diesel as prices went up across the country even on Tuesday.

The net prices of petrol and diesel in Bengal went down by 66 paise per litre and 36 paise per litre respectively on Tuesday. Though this is the first time that petrol and diesel prices dropped since February 8, it would have been Re 1 — the value by which the state's tax has been reduced from February 22 night — if the prices of petrol and diesel had not gone up by 34 paise and 64 paise respectively across the country taking the same to Rs 91.12 per litre and Rs 84.20 per litre on Tuesday.

"The prices of petrol and diesel were Rs 91.78 per litre and Rs 84.20 per litre respectively on Tuesday. Prices of both would have gone down by Re 1 each if the same in all-India level had not gone up today (Tuesday)," said Prasenjit Sen, joint secretary of the West Bengal Petroleum Dealers' Association.

State Finance minister Amit Mitra on Sunday announced that the Mamata Banerjee government has decided to reduce Re 1 from its "own taxes" on both petrol and diesel from February 22 night to give respite to people from the "abnormal hike" in its prices despite severe financial constraints.

There was an increase in petrol price every day from February 1 to 5 when it went up to Rs 88.30 from Rs 87.64 per litre. Again, it started going up from February 8 onwards after remaining constant at Rs 88.30 per litre for three days. On Tuesday, the people of Bengal witnessed a drop for the first time in the past 16 days.

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