The state government, in an attempt to ease some burden on the struggling mass in view of the rising prices of essential commodities, slashed the sales tax on petrol and diesel on Thursday by 2.5 and 1.64 percent respectively bringing the prices down to Rs. 52.87 and Rs. 36.79 per liter.
At a press conference in Patna, officials of the Indian Oil Corporation (IOC) announced the new rates that would go into effect at midnight on Thursday.
The new rates were approved by Governor R. S. Gavai who said the move will certainly help the consumers who are reeling under the skyrocketing prices that could have long-lasting effect on the economy and the society.
With the implementation of the new rates, the government is expected to incur an annual loss of Rs. 100 crore, officials said.
Meanwhile, a number of political outfits in Patna on Thursday staged rallies against the UPA government for failing to check prices of essential commodities.
Burning the effigies of Prime Minister Manmohan Singh, the women's wing of the Janata Dal (U) demanded his resignation blaming him for instituting policies detrimental to the ordinary citizens.
Similar protests were organized by the Bhartiya Janata Party (BJP), the Communist Party of India (CPI), Akhil Bhartiya Vidyarthi Parishad, and the All India Students Association.
Source: www.PatnaDaily.com, Petrol Tax Slashed in Bihar
