Kerala to reduce fuel prices proportionately: KN Balagopal after centre slashes excise duty

Kochi: The state government will take a favourable stance in reducing the value added tax on fuel, Kerala’s Finance Minister KN Balagopal said on Wednesday after the centre slashed excise rates on fuel.

Kerala will reduce rates proportionately to benefit consumers, he informed.

“For the past six months, the centre was collecting almost Rs 30 as special excise duty and cess from every consumer for a litre of petrol. The excise rates were slashed after massive protests. However, there is scope for more reduction. Kerala will also witness a simultaneous fall in fuel prices. The announcement to this extent will be made on Thursday,” the minister said.

The Government of India on Wednesday announced an excise duty reduction on petrol and diesel. 

Excise duty on Petrol and Diesel will be reduced by Rs 5 and Rs 10 respectively from Thursday.

The move comes as a relief to thhe common man on the eve of Diwali.

The central government has also urged the states to provide relief to consumers by reducing the value added tax on petrol and diesel.