Maharashtra Chief Minister Eknath Shinde announces to reduce VAT

In a bid to provide relief to the people of Maharashtra from skyrocketing fuel prices, Maharashtra Chief Minister Eknath Shinde on Monday announced that the state government will reduce value added tax (VAT) on petrol and diesel.

A decision to reduce VAT on fuel will be taken in the state Cabinet, Shinde informed the Legislative House, while replying to a debate after he won the floor test.

Addressing a press conference today after attending today's Assembly session, Shinde said, "We will cut VAT on petroleum to provide relief to the people of Maharashtra. When the Central government comes with any state government, the speed of development increases multifold in that state.

Presently in Mumbai, the rate of petrol is Rs 111.35 per litre and diesel is being sold at Rs 97.28 per litre.