NEW DELHI: The Karnataka government announced a hike in petrol and diesel prices, which will come into effect from Saturday onwards. The decision to increase the prices is a result of a change in the sales tax imposed on petroleum products by the state government.
The price of petrol has increased by Rs 3 per litre, raising the cost from Rs 99.84 to Rs 102.84.Likewise, diesel prices have gone up by Rs 3.02 per litre, with the new price being Rs 88.95, compared to the earlier rate of Rs 85.93.
The Petroleum Dealers Association has attributed this price hike to the state government’s revision of the sales tax on petroleum products.
As per the notification, the sales tax on petrol has been raised from 25.92 per cent to 29.84 per cent. Meanwhile, the tax on diesel has also been increased from 14.3 per cent to 18.4 per cent.
The substantial increase in sales tax has directly affected the retail prices of petrol and diesel throughout the state. The finance department of Karnataka’s decision to raise the sales tax is aimed at generating more revenue for the state. However, this move is expected to have far-reaching consequences on various sectors, such as transportation and goods distribution, which may lead to a rise in costs for consumers.
The sudden implementation of the new prices has surprised many residents and businesses, raising concerns about the financial impact it may have on them.
Karnataka BJP lashed out at the government for hiking petrol and diesel prices after the conclusion of Lok Sabha elections 2024.
BJP spokesperson S Prakash told reporters, “Siddaramaiah-led Congress government has steeply increased diesel and petrol prices in this state. Soon after the Parliament elections are over, this hike has been brought. People were expecting Rs 8500 khatakhat in their bank accounts as promised by Rahul Gandhi.”
“On the contrary, they have been hugely burdened by the increase in petroleum products. This is an outcome of guarantee schemes pursued by the State Govt. The State Govt is financially bankrupt, they are trying to extract revenue from whatever is available,” he added.
The price of petrol has increased by Rs 3 per litre, raising the cost from Rs 99.84 to Rs 102.84.Likewise, diesel prices have gone up by Rs 3.02 per litre, with the new price being Rs 88.95, compared to the earlier rate of Rs 85.93.
The Petroleum Dealers Association has attributed this price hike to the state government’s revision of the sales tax on petroleum products.
As per the notification, the sales tax on petrol has been raised from 25.92 per cent to 29.84 per cent. Meanwhile, the tax on diesel has also been increased from 14.3 per cent to 18.4 per cent.
The substantial increase in sales tax has directly affected the retail prices of petrol and diesel throughout the state. The finance department of Karnataka’s decision to raise the sales tax is aimed at generating more revenue for the state. However, this move is expected to have far-reaching consequences on various sectors, such as transportation and goods distribution, which may lead to a rise in costs for consumers.
The sudden implementation of the new prices has surprised many residents and businesses, raising concerns about the financial impact it may have on them.
Karnataka BJP lashed out at the government for hiking petrol and diesel prices after the conclusion of Lok Sabha elections 2024.
BJP spokesperson S Prakash told reporters, “Siddaramaiah-led Congress government has steeply increased diesel and petrol prices in this state. Soon after the Parliament elections are over, this hike has been brought. People were expecting Rs 8500 khatakhat in their bank accounts as promised by Rahul Gandhi.”
“On the contrary, they have been hugely burdened by the increase in petroleum products. This is an outcome of guarantee schemes pursued by the State Govt. The State Govt is financially bankrupt, they are trying to extract revenue from whatever is available,” he added.
Source Agencies
