Bengaluru, May 30: Kerala will cut taxes on gasoline and gasoil to reduce retail fuel prices by 1 rupee/litre from June 1, Chief Minister Pinarayi Vijayan told media on Wednesday.
Kerala's move could put pressure on other states, mostly ruled by Prime Minister Narendra Modi's Bharatiya Janata Party, to reduce taxes.
Communist party-ruled Kerala is the first state in the country that has decided to take a hit on its revenue to mitigate the impact of higher global prices on customers.
Finance Minister Thomas Isaac said his government will calibrate tax rates in such a manner that retail fuel prices will be reduced by 1 rupee/litre from June 1.
Indian state refiners on Wednesday announced a marginal cut in retail prices of the two fuels.
Comments
Add new comment