Meeting of Punjab CM with Excise officials begin to review state duties on petrol and diesel
In the backdrop of Centre on Thursday slashing the excise duty on fuel, and asking the states to do the same, Punjab Chief Minister Capt Amarinder Singh had convened an urgent meeting of state’s officials of Excise and Taxation and Finance Department on Friday at Chandigarh to take stock of the development. The central government has reduced the Petrol and Diesel prices by Rs. 2.50. They have written to the state government to reduce the prices in their states too. Following which, the Chief Minister of Punjab has called the meeting of Finance, Excise and Taxation departments to discuss the impact of centre’s suggestion to reduce the prices of Petrol and diesel. Punjab’s Finance Minister, Manpreet Singh Badal would be giving a presentation, following which the final decision after the meeting. Also Read: Petrol & diesel prices cut by Rs 2.50 per litre after excise duty reduction; oil companies absorbing Re 1 The Centre Government on Thursday cut petrol and diesel prices by Rs 2.50 with immediate effect. Finance Minister Arun Jaitely addressed a Press Conference in which he announced that the excise duty on petrol and diesel has been reduced by Rs.1.50. Further Oil Marketing companies would be absorbing 1 rupee. Therefore, a total of Rs 2.50 is reduced on both Petrol and diesel prices. He further told the media that the central government would be writing to all state governments to reduce their petrol and diesel prices by Rs 2.50 by cutting down Sales Tax and VAT. -PTC News
