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<ul><li>The Bharatiya Janata Party (BJP) is making fuel cheaper by ₹5 and slashing taxes on alcohol by 25% to woo voters.</li><li>The State Assembly Election is slated to take place in April, this year.</li><li>After winning the majority away from Congress in 2016, BJP is hoping these measures will help assuage voters after protests broke out against the controversial Citizenship Amendment Act (CAA) in 2019.</li></ul>The Assam State Assembly Election is still two months away but the Bharatiya Janata Party (BJP) is already paving the way to woo voters. The state’s finance minister <keyword id="90408" type="PERSON" weightage="20" keywordseo="Himanta-Biswa-Sarma">Himanta Biswa Sarma</keyword> withdrew additional cess on petrol, diesel and alcohol on Friday. The removal of these taxes, this will make petrol and diesel cheaper by ₹5 and the cost of alcoholic beverages will dip by 25%. And, the new rates will be applicable starting midnight tonight. "At the peak of COVID-19, we had levied additional cess on petrol, diesel and liquor. Now, the number of patients has reduced... I am grateful to my cabinet colleagues who agreed to my proposal this morning to rescind this additional cess,” Sarma said during his speech to the House where he presented a vote-on-account for ₹60,784.03 crore. He also revealed that Assam’s gross domestic product (GDP) rose by 23.12% between 2016-17 and 2019-20 at constant prices. The annual growth rate stood at 7.71% in the period as against the rate of 6.11% at the national level. The 2016 election was a big win for the BJP. It was able to usurp the Congress leadership which had been in place since 2001 under Tarun Gogoi. However, during the BJP’s time in power the Citizenship Amendment Act (CAA) has led to mass protests across the state. However, Sarma is confident of BJP’s win. In 2019, <a href="https://economictimes.indiatimes.com/news/politics-and-nation/will-win-100-out-of-126-assembly-seats-in-2021-despite-protests-himanta-biswa-sarma/articleshow/72974239.cms">he said</a> that the BJP will come back into power by winning at least 100 out the 126 assembly seats. Congress, on the other hand, plans to fight the 2021 election by forming a ‘Grand Alliance’. The All India United Democratic Front (AIUDF) has <a href="https://www.news18.com/news/politics/aiudf-says-yes-to-congress-led-grand-alliance-in-assam-2815833.html">reportedly</a> given its consent along with some leftist parties. There is also the possibility of the Krishak Mukti Sangram Samiti (KMSS) joining the coalition. SEE ALSO: <a href="https://www.businessinsider.in/india/news/spicejet-and-indigo-stocks-take-off-as-a-2-hour-flight-could-now-cost-up-to-13000/articleshow/80873865.cms">SpiceJet and IndiGo stocks take off as a 2-hour flight could now cost up to ₹13,000</a> <a href="https://www.businessinsider.in/tech/mobile/news/comparison-between-realme-x7-pro-5g-and-xiaomi-mi-10i-mobile-phones-with-price-and-specifications/articleshow/80873224.cms">Realme X7 Pro 5G vs Xiaomi Mi 10i – best mid-range device under ₹30,000 in India</a> <a href="https://www.businessinsider.in/defense/news/experts-say-india-and-china-both-need-to-show-their-voters-that-they-won-in-ladakh-for-the-disengagement-to-be-successful/articleshow/80876036.cms">Experts say India and China both need to show their voters that they won in Ladakh⁠ for the disengagement to be successful</a>

Assam is making fuel and alcohol cheaper to woo voters ahead of the Assembly Elections in April

The price of petrol in Delhi fell to ₹103.97 a litre at 6 a.m. on Thursday (November 4) and diesel prices fell by a bigger margin to ₹86.67 a litre in the national capital. Petrol prices in Mumbai fell to ₹109.98 a litre from ₹115.85, while diesel fell to ₹94.14 a litre from ₹106.62, which was also the highest among all metros. The Union government in India slashed excise duty rate on both petrol and diesel bringing down the retail prices by ₹5 a litre for petrol and ₹10 for diesel from November 4. Other state governments like Goa and Assam, also ruled by the Bharatiya Janata Party (BJP), the party in power at the Centre, have also followed suit by reducing the state duties as well. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">State </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Fall in petrol price </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Fall in diesel price </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Delhi </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹6.07 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹11.75 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Uttar Pradesh </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹12 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹12 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Rajasthan </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹6.8 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹12.6 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Karnataka </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹12 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹17 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Maharashtra </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹5.87 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹12.48 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Goa </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹12 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹17 </td></tr></tbody><tbody></tbody></table>Source: Agency reports on November 4 Domestic prices of both fuels have touched record highs on the back of a steep rise in crude oil cost. Petrol has already breached the ₹100 per litre mark and above in several cities, whereas, diesel is not far behind. The government had come under criticism for the sharp rise in transport fuels as well as the fears of runaway inflation had become a bother for the Reserve Bank of India (RBI). <div type="image" title="b24914cc2d37edb57f2cc30e04d72697" msid="87516240" hostid="261" caption="&amp;lt;p&amp;gt;FILE PHOTO: A picture of a protest against rise in fuel prices in Kolkata this year.&amp;lt;/p&amp;gt;"></div> Between March and May 2020, the union government had hiked the excise duty on on petrol by ₹13 per litre and ₹16 on diesel, at a time when oil prices had come crashing down. The states had also followed suit with consequent rise in VAT. This gave the exchequer additional cushion to offset the fall in tax revenue as well as to foot the new expenses in the wake of the pandemic. According to the statement from the Ministry of Finance, there is no energy shortage in the country and that commodities such as petrol and diesel are available adequately to meet requirements. "Driven by the enterprising ability of India's aspirational population, the Indian economy has witnessed a remarkable turnaround post the Covid-19 induced slowdown. All sectors of the economy - be it manufacturing, services or agriculture - are experiencing significant upward economic activity. "To give a further fillip to the economy, the Government of India has decided to significantly reduce the excise duty on diesel and petrol." With inputs from IANS SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/who-approves-bharat-biotechs-covaxin-for-emergency-use/articleshow/87510108.cms">WHO approves Bharat Biotech’s Covaxin for emergency use after a long wait</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/here-is-why-cleartax-clinched-a-deal-with-the-worlds-most-valued-fintech-company/articleshow/87509691.cms">Here is why Clear(Tax) clinched a deal with the world's most valued fintech company</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/the-strong-financial-performance-of-makemytrip-easemytrip-and-irctc-hints-towards-a-larger-travel-recovery-in-india/articleshow/87503220.cms">The strong financial performance of MakeMyTrip, EaseMyTrip and IRCTC hints towards a larger travel recovery in India</a>

Indian government has cut duties on petrol and diesel and other BJP-ruled states follow suit

<ul><li>One of the biggest exclusions from the Goods and Services Tax (GST) regime is petroleum.</li><li>At the moment, the Centre levies excise duty while states levy value added tax (VAT) at different rates, leading to different rates of petrol and diesel in different parts of the country.</li><li>This could change if the <keyword id="6360789" type="UNKNOWN" weightage="20" keywordseo="Modi-government">Modi government</keyword> manages to bring petroleum under GST.</li><li>It could also make the rates uniform across the country and bring down prices.</li></ul>The Modi government could be gearing up to bring petroleum under the Goods and Services Tax (GST) regime, at a time when petrol prices have broken all past records and <a href="https://www.businessinsider.in/india/news/petrol-rates-with-additives-cross-100-mark-in-maharashtras-parbhani-district/articleshow/80907658.cms">breached the ₹100 mark</a> in several parts of the country. When it was rolled out in 2017, the GST regime brought a wide range of products and almost all services under its purview, and the latest to join this list could be petroleum – this is an issue that seems simple on the outset but is a lot more complicated than that. However, the Modi government could be aiming to put this issue behind it if Finance Minister Nirmala Sitharaman’s recent comments are anything to go by. We look at some signs that suggest the Modi government is pushing for bringing petroleum under the scope of GST. <cmsannotation type="cmsannotation" annotationid="Exhibit 1 – FM Sitharaman’s recent comments on the surge on fuel prices" comment="subhead" text="Exhibit 1 – FM Sitharaman’s recent comments on the surge on fuel prices">Exhibit 1 – FM Sitharaman’s recent comments on the surge on fuel prices</cmsannotation> In an address to the media recently, Sitharaman said that this is a “vexatious issue” and one that needs to be addressed by both the Centre as well as the states. “But to get fuel prices under GST needs to be a thorough discussion in the GST Council (comprising Centre and the states),” she <a href="https://www.timesnownews.com/auto/features/article/adding-petrol-and-diesel-to-gst-regime-could-bring-down-prices-nirmala-sitharaman/723049">said</a> in the address. Further, commenting on the fact that petrol prices are different in each state, she added, “That anomaly can be addressed if it is under GST. And that can be just one tax which can be shared by both Centre and State.” Currently, taxes on petroleum products are levied by both the Centre and the states. While the Centre levies excise duty, states levy value added tax (VAT). If petroleum is brought under GST, both the taxes would be merged and fuel prices across the country would be uniform. Sitharaman found <a href="https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=51161">support</a> from the Reserve Bank of India’s governor, Shaktikanta Das, who urged the Centre and states to reduce taxes on petrol and diesel. This could also be seen as a nudge towards pushing both the sides to bring petrol and diesel under the ambit of GST. <cmsannotation type="cmsannotation" annotationid="Exhibit 2 – PM Modi says his government is committed to bring natural gas under GST" comment="subhead" text="Exhibit 2 – PM Modi says his government is committed to bring natural gas under GST">Exhibit 2 – PM Modi says his government is committed to bring natural gas under GST</cmsannotation> PM Modi gave a boost to calls for including natural gas under GST. He said, “We are committed to bringing natural gas under the GST regime; I want to tell the world to invest in India's energy sector,” <a href="https://www.livemint.com/news/india/govt-committed-to-bring-natural-gas-under-gst-pm-modi-11613562192653.html">adding</a> that this would help reduce prices as well. <cmsannotation type="cmsannotation" annotationid="There’s support from the opposition as well" comment="subhead" text="There’s support from the opposition as well">There’s support from the opposition as well</cmsannotation> Another shot in the arm for the Modi government is the fact that even the opposition wants petrol and diesel to be brought under GST. The issue has seen comments from former finance minister P Chidambaram <a href="https://www.financialexpress.com/india-news/bring-petrol-diesel-under-gst-immediately-says-p-chidambaram/1301560/">questioning</a> the government as to why this has not been done. <cmsannotation type="cmsannotation" annotationid="Why is it difficult to bring petroleum under GST?" comment="subhead" text="Why is it difficult to bring petroleum under GST?">Why is it difficult to bring petroleum under GST?</cmsannotation> Petroleum products contribute a significant amount of revenue to the states. For instance, VAT on petroleum products is as high as 40% in Maharashtra, <a href="https://timesofindia.indiatimes.com/city/mumbai/petrol-diesel-price-hikes-to-pour-rs-700-crore-into-maharashtra-govt-coffers/articleshow/76437241.cms">contributing</a> over ₹25,000 crore annually. <div type="image" title="Tax contribution to Centre and State" msid="81171040" hostid="261"></div> By being able to levy VAT on these products, the state governments have control over their revenues. Bringing petroleum under GST takes away that control as the Centre is the one in charge of fixing the rate of GST. Another issue is the rate of VAT on petrol and diesel varies wildly amongst states. While Maharashtra charges up to 40% on petrol, while Andaman and Nicobar charge just 6%. Levying a standard rate of GST on petrol would mean that the prices increase dramatically in Andaman and Nicobar, but on the flip side, they would fall in Maharashtra if the cumulative rate is lower than the current rate. This throws up two issues – while the common person would end up paying more for petrol in Andaman and Nicobar, the Maharashtra government would lose out on revenue as GST would lower the effective rate of tax on petrol. SEE ALSO: <a href="https://www.businessinsider.in/india/news/checkout-viral-memes-and-jokes-on-social-media-around-petrol-price-in-india/articleshow/81085815.cms">The painful surge in fuel prices in India has led to some hilarious memes and videos on Twitter and Instagram</a> <a href="https://www.businessinsider.in/india/news/petrol-rates-with-additives-cross-100-mark-in-maharashtras-parbhani-district/articleshow/80907658.cms">Petrol rates with additives cross ₹100 mark in Maharashtra's Parbhani district</a> <a href="https://www.businessinsider.in/india/news/petrol-and-diesel-will-become-cheaper-by-5-in-assam-only-from-today-midnight/articleshow/80876847.cms">Assam is making fuel and alcohol cheaper to woo voters ahead of the Assembly Elections in April</a>

Signs that Modi government wants to bring petrol and diesel under GST – and the reasons why it is difficult

<ul><li>Petrol and <keyword id="6397171" type="UNKNOWN" weightage="20" keywordseo="diesel-prices">diesel prices</keyword> rose for the 22nd time on Monday in the past 23 days </li><li>Since the daily price revision resumed on June 7, the petrol price has increased ₹9.17 and diesel rose by ₹11.14 in the <keyword id="6360421" type="UNKNOWN" weightage="20" keywordseo="national-capital">national capital</keyword>. </li><li>However, the price varies from one state to another as fuel doesn’t come under the goods and services tax (GST) and states impose their own taxes. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a></li></ul>Petrol and diesel prices rose for the 22nd time on Monday in the past 23 days with <keyword id="6402706" type="UNKNOWN" weightage="20" keywordseo="oil-marketing-companies">oil marketing companies</keyword>. The latest rise in the pump price of petrol was 5 paisa and diesel by 13 paisa per litre in the national capital Delhi. Since the daily price revision resumed on June 7, the petrol price has increased ₹9.17 and diesel rose by ₹11.14 in the national capital. In other cities, the magnitude of increase was similar. However, the price varies from one state to another as fuel doesn’t come under the goods and services tax (GST) and each state levies value added tax (VAT) as per its need, resulting in the sharp price difference. Here’s how the petrol and diesel prices look like in some of the major metropolitan cities <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cities </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Petrol </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Diesel </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mumbai </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 87.19 </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 78.83 </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Delhi </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 80.43 </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 80.53 </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hyderabad </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 83.49 </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 78.69 </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Chennai </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 83.78 </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 77.86 </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bengaluru </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 83.04 </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 76.58 </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kolkata </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 82.10 </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 75.64 </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Chandigarh </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 77.41 </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 71.98 </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Patna </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 83.32 </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 77.42 </td></tr></tbody></table>*as of June 29 During the past 23 days, the quantum of price hike gradually declined from around 60 paise raise for a few days, immediately post the resumption of daily price revision, to less than 20 paise during the past few days and now even less than 10 paisa per litre. In a historic development, the price of diesel surged above that of petrol in the national capital during this period. It continues to remain higher even though on Saturday the quantum of the petrol price hike was higher than that of diesel. Officials in oil marketing companies said that it is hard to predict which of the two fuels will be priced higher in the capital as the gap between the two is almost negligible. But petrol prices have shown more volatility in international markets that may take it ahead once again in the coming days. Globally diesel is priced a tad higher than petrol. In India too, the base price of diesel is slightly higher than petrol, but taxation at central and state levels changed the complexion of retail prices. If the price of petroleum products and crude hold their positions in global markets, then petrol and diesel prices may stop for a longer period, and we may even see a marginal fall in prices. Fuel prices have been increasing since June 7 when oil companies began the daily price revision mechanism after a hiatus of 82 days during the lockdown. SEE ALSO: <a href="https://www.businessinsider.in/india/news/checkout-devastating-images-and-pictures-of-assam-floods/slidelist/76684624.cms" data-type="tilCustomLink">IN PICS: Devastating images of Assam floods as five more die and 9.26 lakh people bear the after-effects</a> <a href="https://www.businessinsider.in/india/news/ifb-agro-industries-sought-help-from-the-cm-mamata-banerjee-after-an-alleged-attack-on-one-of-its-distilleries-in-south-24-parganas/articleshow/76682327.cms" data-type="tilCustomLink">IFB Agro's share price falls by 6% as company says armed goons attacked its distillery in West Bengal</a>

The price of petrol and diesel in some of the big cities in India

Guwahati, Apr 22 () Assam has increased fuel pricessteeply to cover "some of the losses" incurred due to thenationwide lockdown imposed to contain the spread of novelcoronavirus, Finance and Health minister Himanta Biswa Sarmasaid on Wednesday.The price of petrol increased from Rs 71.61 to Rs77.46 per litre and of diesel from Rs 65.07 to Rs 70.50 perlitre.The revised rates will be effective from April 22midnight. Sarma told a press conference that the increase infuel prices is a temporary measure and "the pain has to beborne by all. "Once the coronavirus ends, we will review it again." The state government was losing revenue as fuelpurchase by consumers had come down drastically and "we had toincrease the prices to cover some of the losses", Sarma said. "We will be doubly hit as international prices havecome down and our royalty from OIL India and ONGC will alsocome down drastically. Besides, fuel sale in the state hasalmost been negligible."Earlier our monthly dues as royalty was Rs 166 crorebut now we will get around Rs 50 crore and so we are trying toprotect our revenue by hiking the prices," he said. Assam government had issued a notification on Tuesdayincreasing the rates of tax on diesel by "23.66 paise in therupee or Rs 17.45 per litre whichever is higher" and in thecase of petrol and motor spirits by "32.66 paise in the rupeeor Rs 22.63 per litre, whichever is higher". DGMM MM

Lockdown: Assam hikes fuel prices

<keyword id="6367091" type="UNKNOWN" weightage="20" keywordseo="petrol">Petrol</keyword> price on Wednesday crossed the ₹100-a-litre mark after fuel prices were increased in line with firming international oil trends. Petrol price was increased by 35 paise per litre and diesel by 23 paise a litre, according to a price notification of state-owned fuel retailers. In Delhi, petrol now costs ₹100.21 a litre and diesel is priced at ₹89.53 per litre. Delhi is the last of the metro cities to see petrol rising above the ₹100-a-litre mark. Mumbai, Chennai, Hyderabad and <keyword id="2094" type="COMPANY" weightage="20" keywordseo="Pune">Pune</keyword> already have prices above that mark. <keyword id="6354925" type="LOCATION" weightage="20" keywordseo="kolkata">Kolkata</keyword> also saw petrol prices climbing over ₹100 per litre on Wednesday. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/a-small-hospital-assam-is-using-ai-to-detect-strokes-in-tea-planters/articleshow/84194042.cms">A small hospital in a remote corner of Assam is using AI to detect strokes in tea planters</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/clean-science-and-technology-ipo-maximum-broking-house-recommending-this-ipo/articleshow/84193873.cms">Clean Science and Technology, an Indian supplier to Bayer, has opened its IPO ⁠— and ‘subscribe’ is the unanimous call from analysts</a>

Petrol price in Delhi crosses ₹100 per litre

New Delhi, Jan 16 () Indian Oil Corp (IOC), the country's biggest oil firm, will decide on bidding to buy Bharat Petroleum Corporation Ltd (BPCL) after the government lists out rules for the stake sale, its Chairman Sanjiv Singh said Thursday.
 The Cabinet Committee on Economic Affairs had on November 21, 2019 decided to sell government's entire 53.29 per cent stake in country's second-largest state refiner BPCL, but a tender for sale hasn't yet been issued.
 "The expression of interest (EoI) (for BPCL stake sale) hasn't been issued yet. We don't know the conditions. We have no information whether PSUs are allowed to bid or not," Singh told reporters here. "I cannot comment if IOC will bid or not unless we see the conditions set out in the EoI."
 He said a decision on the issue can only be taken once there is clarity on the bidding process the government intends to follow.
 Soon after the Cabinet decision, Oil Minister Dharmendra Pradhan had hinted that PSUs will be kept out of BPCL privatisation.
 "Since 2014, we have a clear vision that the government has no business to be in business," Pradhan had said on November 22, 2019. "We have examples of 2-3 sectors such as telecom and aviation where ushering in private participation has led to customers benefiting from price cuts, efficiency, and better service."
 Asked if the company has been told that PSUs will be kept out, Singh said there is no information on whether state-owned firms can bid or not.
 BPCL will give the buyer ready access to 14 per cent of India's oil refining capacity and about one-fourth of the fuel marketing infrastructure in the world's fastest-growing energy market.
 It, however, will be sold after carving out Numaligarh Refinery from its portfolio and given to a pubic sector unit. Numaligarh Refinery Ltd is also to be sold out to a PSU, possibly through a bidding process.
 Singh said he cannot comment if the company will bid for the Numaligarh Refinery unless tender conditions are revealed.
 "We don't know if Numaligarh Refinery will be sold with marketing infrastructure or without its marketing infrastructure. We have to wait for details before IOC can take any decision," he said.
 Numaligarh refinery was set up as per the Assam Peace Accord and the government has decided to keep it in the public sector.
 At the current trading price of BPCL, the government's 53.29 per cent stake is valued at around Rs 53,400 crore. On top of this, the acquirer will have to make an open offer to buy an additional 26 per cent stake from minority shareholders for about Rs 26,000 crore.
 The price of BPCL has been hammered since the November 21 CCEA decision. On that day, the government stood to gain Rs 62,000 crore from privatisation but will now get about Rs 8,000 crore less.
 The stake sales are critical for the government to meet its disinvestment target of Rs 1.05 lakh crore set for the current financial year.
 The government had allowed PSUs to bid when it sold petro retailer IBP Co Ltd in 2002. IOC had bagged the government's 33 per cent stake in IBP for Rs 1,153.68 crore or Rs 1,551 a share. 
 The other bidders for IBP were Reliance Industries, Royal Dutch Shell, Kuwait Petroleum Corporation, BPCL, and Hindustan Petroleum Corporation. The reserve price for IBP was Rs 337 crore.
 Last year, the government sold its entire stake in Hindustan Petroleum Corp Ltd (HPCL) to state-owned Oil and Natural Gas Corp (ONGC) for Rs 36,915 crore.
 BPCL operates four refineries in Mumbai, Kochi (Kerala), Bina (Madhya Pradesh) and Numaligarh (Assam) with a combined capacity of 38.3 million tonnes per annum, which is 15 per cent of India's total refining capacity of 249.4 million tonnes. 
 After removing 3 million tonnes capacity of Numaligarh refinery, the new buyer will get 35.3 million tonnes of refining capacity.
 It also owns 15,177 petrol pumps and 6,011 LPG distributor agencies in the country. Besides, it has 51 LPG (liquefied petroleum gas) bottling plants. The company distributes 21 per cent of petroleum products consumed in the country by volume as of March this year and has more than a fifth of the 250 aviation fuel stations in the country.
 The government is keen to get international energy majors such as Saudi Aramco, Total SA of France and ExxonMobil to operate in the downstream fuel marketing business so as to bring in greater competition.
 Currently, 95 per cent of retail petrol and diesel sales and near 100 per cent of cooking gas (LPG) and kerosene sales are controlled by the public sector units.
 As on March 31, BPCL reported cash and cash equivalents of around Rs 5,300 crore against Rs 10,900 crore of debt maturing over the next 15 months. ANZ RVK

IOC to decide on bidding for BPCL after govt lays out rules: Chairman

New Delhi, Nov 21 () Oil Minister Dharmendra Pradhan on Thursday hinted that public sector firms such as Indian Oil Corporation (IOC) may not be allowed to bid for buying government stake in Bharat Petroleum Corporation Ltd (BPCL), for which a buyer may have to shell out as much as Rs 90,000 crore.
 The Cabinet Committee on Economic Affairs had on Wednesday decided to sell the government's entire stake in the country's second-largest state refiner BPCL and India's largest shipping company Shipping Corporation of India (SCI). It also approved privatisation of Container Corporation of India while also giving nod to paring stake below 51 per cent in select public sector undertakings but without losing control.
 "Since 2014, we have a clear vision that the government has no business to be in business," Pradhan told reporters here. "We have examples of 2-3 sectors such as telecom and aviation where ushering in private participation has led to customers benefiting from price cuts, efficiency, and better service. And yesterday (on Wednesday), several reformist decisions were taken."
 BPCL will give buyers ready access to 14 per cent of India's oil refining capacity and about one-fourth of the fuel marketing infrastructure in the world's fastest-growing energy market.
 It, however, will be sold after carving out Numaligarh Refinery from its portfolio and given to a pubic sector unit.
 "Numaligarh refinery was set up as per Assam Accord and it will remain a public sector unit. Assam Chief Minister had requested Prime Minister (Narendra Modi) to retain public sector character of Numaligarh Refinery and that has been accepted," he said.
 Pradhan, however, did not say if IOC or Oil India Ltd, which already has a stake in the refinery and also supplies crude oil to it, will take over the unit.
 "The details have to be worked out," he said. "Finance Minister (Nirmala Sitharaman) has stated that the privatisation of BPCL will happen this fiscal and we hope to adhere to the timeline."
 Asked if public sector units will be allowed to bid for the government's 53.29 per cent stake, he said: "Nitty gritty and details of the disinvestment process will have to be worked out but when I say the government has no business to be in business, it is indicative of possible future course of action."
 At the current trading price of BPCL, the government's 53.29 per cent stake is valued at a shade less than Rs 62,000 crore. On top of this, the acquirer will have to make an open offer to buy an additional 26 per cent stake from minority shareholders for about Rs 30,000 crore.
 Last year, the government had sold its entire stake in Hindustan Petroleum Corp Ltd (HPCL) to state-owned Oil and Natural Gas Corp (ONGC) for Rs 36,915 crore.
 Pradhan said the privatisation of BPCL was following the policy of ushering in greater competition in sectors that can sustain on their own.
 Greater private participation, like in the telecom and aviation sector, will bring about efficiencies and better service to consumers, he said.
 The CCEA had on Wednesday also approved the sale of an entire 63.75 per cent government holding in SCI and 30.8 per cent out of the government's 54.80 per cent stake in Container Corp of India (Concor).
 Besides, the government will sell its entire holding in THDC India Ltd (THDCIL) and North Eastern Electric Power Corp Ltd (NEEPCO) to state-owned power generator NTPC Ltd, the finance minister has said.
 The government holds 74.23 per cent in THDCIL and 100 per cent NEEPCO.
 Parallelly, the Cabinet had also approved reducing government stake in select PSUs such as IOC to below 51 per cent while continuing to retain management control.
 The management control will continue to be retained with the government after considering equity held by other state-owned companies in the divested firm.
 The government, currently, holds 51.5 per cent in IOC and another 25.9 per cent through state-owned Life Insurance Corp of India (LIC), and explorers ONGC and Oil India Ltd (OIL), and the government can potentially sell 26.4 per cent for about Rs 33,000 crore.
 A similar formula can also apply to ONGC and gas utility GAIL India Ltd.
 The stake sales are critical for the government to meet its disinvestment target of Rs 1.05 lakh crore set for the current financial year.
 At current prices, the government's 30.8 per cent stake in Concor is worth about Rs 10,800 crore, while stake sale in SCI will fetch just over Rs 2,000 crore.
 BPCL operates four refineries in Mumbai, Kochi (Kerala), Bina (Madhya Pradesh) and Numaligarh (Assam) with a combined capacity of 38.3 million tonnes per annum, which is 15 per cent of India's total refining capacity of 249.4 million tonnes. After removing three million tonnes capacity of the Numaligarh refinery, the new buyer will get 35.3 million tonnes of refining capacity.
 It also owns 15,177 petrol pumps and 6,011 LPG distributor agencies in the country. Besides, it has 51 LPG (liquefied petroleum gas) bottling plants. The company distributes 21 per cent of petroleum products consumed in the country by volume as of March this year and has more than a fifth of the 250 aviation fuel stations in the country.
 The government is keen to get international energy majors such as Saudi Aramco, Total SA of France and ExxonMobil to operate in the downstream fuel marketing business so as to bring in greater competition.
 Currently, 95 per cent of retail petrol and diesel sales and near 100 per cent of cooking gas (LPG) and kerosene sales are controlled by the public sector units.
 As on March 31, BPCL reported cash and cash equivalents of around Rs 5,300 crore, against Rs 10,900 crore of debt maturing over the next 15 months. ANZ HRS

You Searched For "diesel price assam" and got 8 results

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