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Improve Your Vocabulary From Newspaper(11-10-2017)

After Gujarat, Maharashtra moves to reduce VAT charges on petrol, diesel.

Hours after Gujarat decided to cut Value Added Tax (VAT) on petrol and diesel, Maharashtra government followed the suit and reduced VAT on both the products. Prices of petrol and diesel will come down by Rs 2 and Re 1 a litre, respectively from midnight and, therefore, petrol will now cost Rs 75.58 per litre and diesel will cost Rs 59.55 in the state.

Finance Minister Sudhir Mungantiwar termed the VAT reduction as a “Diwali gift” to people of the state. “The chief minister has approved a proposal to reduce the VAT on petrol and diesel by Rs 2 and Re 1 a litre, respectively. This is our Diwali gift to the masses,” Mungantiwar was quoted as saying by PTI.

Earlier in the day, Gujarat Chief Minister Vijay Rupani declared that his government has decided to minimise VAT on these commodities. As of now, the Gujarat government has been charging 24 per cent VAT on petrol and diesel.

Following the announcement, the revised rates of petrol and diesel in Gujarat will be Rs 67.53 and Rs 60.77 litre respectively. Rupani also pointed out the decision will cause a decrease in the annual income of the state government by Rs 2316.

 The announcement is also seen as an attempt by the government to woo public ahead of the assembly elections later this year. Rupani, however, declined to term the decision as an election oriented announcement.

The decision to lower VAT charges came after Union Finance Minister Arun Jaitley wrote to all state governments, asking them to reduce taxes on petrol and diesel. The Centre had recently slashed the excise duty on petrol and diesel by Rs 2 per litre.

 

  1. come down-निर्णय लेना,उतरना,गिरना(fall, tumble, molt, thud, drop)

  2. respectively -क्रमश:

  3. slashed -घटा

  4. reduce -कम करना(detractlowerslackendecreasealleviate)

  5. masses-जनता

  6. commodities-माल(goodscargowaresstockproperty)

  7. pointed out -बताया

  8. ahead -आगे(furtherAforeantecedentlyateriorly)

By Lokesh Saini

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