KEA appeals LG administration for further reduction in taxes on petrol,diesel prices

Srinagar: Kashmir Economic Alliance (KEA) today appealed LG Administration for further reduction of excise duty on fuel as several BJP ruled states have announced a further reduction of Rs 7 per litre on Value Added Tax (VAT) on both petrol and diesel.
In a statement issued here KEA Chairman Mohammad Yaseen Khan said, “people from various parts of the UT have expressed tremendous pressure over their pockets due to the hike and urged the government to further reduce the price as it will be of great relief in these inflating times. There is no other option, one has to buy petrol to commute. Even public transport is costlier now. Government should reduce the prices.”
Khan who also heads KTMF said, “the reduction in excise duty will also boost consumption and keep inflation low, thus helping the poor and middle classes. We expect the decision will spur the overall economic cycle.The cut in excise duty will bring relief to commuters.The relief will be bigger for trucks and the transport sector who are the biggest users of diesel.”
Pertinently, taking a cue from the Centre, nine BJP-ruled states Assam, Tripura, Manipur, Karnataka, Goa, Uttar Pradesh, Gujarat, Himachal Pradesh and Uttarakhand announced additional cuts in prices of petrol and diesel that have become effective from Thursday.

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