Petrol and Diesel Prices Hiked in Punjab: VAT Increase Impacts Cost
The price of petrol and diesel in Punjab underwent a hike on Sunday, affecting the daily expenses of the people residing in the state. The government of Punjab has increased the Value Added Tax (VAT) on petrol and diesel, which has led to the rise in their prices. Here are the details:
Petrol Price in Punjab: With the latest hike, the price of petrol in Punjab has reached Rs 98.65 per liter, which is a significant increase from the previous price.
Diesel Price in Punjab: The price of diesel in Punjab has also been hiked and now stands at Rs 88.95 per liter.
Impact on Daily Expenses: The increase in petrol and diesel prices will have a direct impact on the daily expenses of the people in Punjab, especially those who rely on their vehicles for commuting.
Reason for the Hike: The Punjab government has increased the VAT on petrol and diesel to generate additional revenue for the state. The move is expected to help the state government to meet its financial obligations.
Reaction from the Public: The hike in petrol and diesel prices has not been received well by the people in Punjab. Many have criticized the move and called for a rollback of the decision.
Conclusion: The increase in petrol and diesel prices in Punjab has come as a shock to the people in the state. While the government has cited the need for additional revenue as the reason behind the hike, it remains to be seen how this move will impact the economy and the daily lives of the people in the state.
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