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Trade bodies resent hike in VAT on petrol, diesel

Trade bodies resent hike in VAT on petrol, diesel
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Several trade bodies here on Friday expressed resentment over the hike in VAT on petrol and diesel by the Andhra Pradesh government despite the Centre’s decision to slash oil prices. The decision of the NDA government to reduce the consumer price of diesel and petrol by Rs 4 per litre turned out to be a blessing in disguise for the State rulers, representatives of trade bodies said.

Kakinada: Several trade bodies here on Friday expressed resentment over the hike in VAT on petrol and diesel by the Andhra Pradesh government despite the Centre’s decision to slash oil prices. The decision of the NDA government to reduce the consumer price of diesel and petrol by Rs 4 per litre turned out to be a blessing in disguise for the State rulers, representatives of trade bodies said.

They argued that despite the decision of the Centre to compensate the Rs 16,000-crore budget deficiency of Andhra Pradesh and releasing Rs 500 crore to this effect, the State decided to utilise the cut in price of fuels for its own gains. They said that the increase in VAT would have adverse effect on different sectors, including transport.

Godavari Chamber of Commerce president P Bhavana Prasad said that due to the hike, the price of petrol increased to Rs 65.53 with an added VAT of Rs 4.49 and that of diesel to Rs 54.24 from Rs 50.24. CPM Andhra Pradesh State committee member Dadala Subba Rao spoke.

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