Petrol, diesel costs reduce by Rs 5 in THIS state

Image Source : PTI Petrol, diesel costs reduce by Rs 5 in THIS state 
Meghalaya authorities on Tuesday slashed retail costs of petrol and diesel by one other over Rs 5 by decreasing VAT on them, Chief Minister Conrad Okay Sangma mentioned. The determination got here amid strike by business transporters that entered second day Tuesday.
The new retail worth of petrol will likely be Rs 85.86 from its present worth of Rs 91.26, whereas the brand new retail worth of diesel will likely be Rs 79.13 from its current price of Rs 86.23 within the state capital, Sangma mentioned after a assessment assembly he held along with his cabinet colleagues and senior authorities officers.
He mentioned the whole discount will likely be Rs 7.4 for petrol and Rs 7.1 for diesel after the state authorities had introduced a Rs 2 rebate on each the gadgets final week.
The decreasing of costs of each petrol and diesel was a results of the state governments determination to cut back the VAT from 31.62 per cent on petrol to twenty per cent per litre or Rs 15 per litre (whichever is increased).
For diesel VAT got here down from 22.95 per cent to 12 per cent or Rs 9 per litre, Conrad mentioned.
The chief minister mentioned the brand new tariff will even guarantee a aggressive pricing of each the gadgets with the neighbouring Assam which had lowered the costs of each petrol and diesel by Rs 5 final week.
The determination is more likely to pacify agitating business transporters who had remained off the street prior to now two days and likewise threatened to go on indefinite starvation strike if the federal government fails to behave.
The state authorities had collected Rs 326 crore as income from taxes on petrol and diesel within the final monetary 12 months.
Conrad mentioned the federal government had already collected Rs 451 crore by the use of taxes on petrol and diesel until January this 12 months.

Meanwhile, the state authorities has additionally assured cost of electrical energy dues to Power Grid Corporation of India Ltd value over Rs 74 crore following which the ability firm has assured to withdraw energy rules to the state with fast impact.
The energy regulation of 70 MW leading to energy cuts of as much as 7 hours in a day throughout the state had begun since Sunday final after the state authorities did not pay pending dues of Rs 74.65 crore to the PGCIL.
“I am happy to inform that load shedding (power cuts) will be completely taken out within 24 hours. We have the approvals of the PGDCIL,” Conrad advised journalists right here.
He mentioned the state authorities had cleared a Rs 1345 cr Aatmanirbhar mortgage from the Centre to liquidate all excellent dues towards the acquisition of energy from numerous power-generating establishments.
According to the chief minister, the centre has already launched Rs 127 crore to the REC which was paid to a different energy producing firm, NEEPCO.
“About 75 per cent of the amount is left with the REC. Funds are released from the REC and in due course of time, the dues for PGCIL will also be paid by the REC,” Conrad mentioned.
The chief minister knowledgeable that the Meghalaya Electric Corporation Ltd has been a sufferer of non-payment of dues by customers.
The firm had prior to now two months recovered practically one crore dues after the corporate issued reminders and notices to defaulting customers.
The chief minister appealed to all customers of MeECL to pay their dues recurrently.
Officials of the state energy firm have been requested to comply with strict procedures to recuperate dues from customers, a senior official of the corporate mentioned. 
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