With the general elections on the horizon, the central government has given the populace a cause for cheer by slashing the cost of petrol and diesel by $0.03 per liter. The reduced prices will be in effect across the nation from 6 AM on Friday. Meanwhile, Minister Hardeep Puri took to platform X on social media to tweet: 'By reducing petrol and diesel prices by $0.03, Prime Minister Narendra Modi has once again proven his commitment to the well-being and convenience of millions of Indian families.'
He noted that during a difficult global period, fuel prices surged by 50-72% in developed and developing nations, while in many neighboring countries, fuel availability ceased altogether. Despite the biggest oil crisis in 50 years, PM Modi's visionary and graceful leadership spared his family any hardship.
Before this federal decision, the Bhajanlal administration in Rajasthan had already provided major relief to the public. Moreover, they granted a significant gift to government employees. The state government slashed the VAT on petrol and diesel by 4%, leading to prices dropping between $0.019 to $0.071 for petrol and $0.018 to $0.065 for diesel. Chief Minister Bhajan Lal Sharma explained that the VAT reduction will add a financial weight of approximately $200 million on the state government. The new fuel prices will be effective from 6 AM on Friday.
Additionally, the state has increased the Dearness Allowance (DA) for its employees by 4 percent. This increase will take effect from January 1, 2024, benefitting 440,000 pensioners and raising the salary of 800,000 government workers. Benefit from the increased DA will also extend to employees of the Panchayat Committee and District Council, placing an additional annual burden of about $210 million on the government.
