India
oi-Ajay Joseph Raj P
New Delhi, Feb 25: In a recent development, Nagaland has cut taxes on petrol and diesel and other motor spirits, bringing some relief to consumers as the retail price of petrol has come down to Rs 90.41 a litre and Rs 83.99 a litre for diesel on Wednesday.
According to the state finance department, the tax rate for diesel has been reduced from Rs 11.08 to Rs 10.51 per liter or 17.50 per cent to 16.50 per cent per liter. The reduction in fuel tax came into effect from February 22.
The price of petrol which was retailing at around Rs 93.48 and diesel at Rs 84.35 on February 21 in the state capital Kohima, before the tax cut, is being retailed at Rs 90.41 and Rs 83.99 on Wednesday, respectively.
It can be seen that the prices of petrol and diesel have been on the rise for the last…