Thursday, 20 September 2012

Diesel becomes 85 paise cheaper in Bihar



 Bihar government today reduced VAT on diesel by two per cent to make it cheaper by 85 paise with effect from midnight, Chief Minister Nitish Kumar said. 

The VAT on diesel has been reduced from the earlier 18 per cent to 16 per cent and in the process the price of the fuel product will become cheaper by 85 paise at Rs 50.15 from midnight, Kumar told reporters after a cabinet meeting. 

The diesel price had shot up to Rs 51 per litre in Bihar after the Centre had hiked its price by Rs five last week. 

The state government will have to bear a revenue loss of Rs 118 crore during the remainder of this fiscal year on account of reduction in VAT rate on diesel, Kumar said. 

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