Petrol and Diesel Price in Punjab: Government announces hike for revenue generation

Petrol and Diesel Price in Punjab: In an effort to generate additional revenue, the Punjab Government has announced a hike in petrol prices by 92 paisa per litre and diesel prices by 88 paisa per litre for retail consumers. The state Excise and Taxation Department has issued a notification to implement these price increases.

This marks the second time this year that fuel prices have been raised in Punjab. With the latest hike, the government aims to generate an additional revenue of Rs 600 crore per annum.

According to official sources in the Finance Department, even after the price increase, diesel in Punjab will be cheaper than in neighboring Haryana. Additionally, both diesel and petrol prices in Punjab will remain lower than those in neighboring Rajasthan.

It should be noted that while the Aam Aadmi Party Government, like its predecessors, has introduced two budgets without imposing new taxes, the increase in petrol and diesel prices has become necessary due to rising expenditures on committed liabilities, subsidies, and social security pensions.

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