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Patna,(BiharTimes): After the Congress ruled states decision to provide nine, instead of six subsidized LPG cylinders to consumers every year, the Bihar government on Thursday reduced VAT on diesel by two per cent to make it cheaper by 85 paise with effect from midnight.
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Making the announcement on Thursday chief minister Nitish Kumar said the state government would have to bear a revenue loss of Rs 118 crore during the remaining period of the current financial year on account of reduction in VAT rate on diesel.
Making the announcement on Thursday chief minister Nitish Kumar said the state government would have to bear a revenue loss of Rs 118 crore during the remaining period of the current financial year on account of reduction in VAT rate on diesel.
The VAT on diesel has been reduced from the earlier 18 per cent to 16 per cent and in the process the price of the fuel product will become cheaper by 85 paise. The diesel price had shot up to Rs 51 per litre in Bihar after the Centre had hiked its price by Rs five last week. But now it will be available at Rs 50.15 per litre.
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