Petrol pumps will remain closed in MP today, know why?

Bhopal: Protest has started against the reduction in excise duty of petrol and diesel by the central government. Expressing displeasure over the cut, the Madhya Pradesh Petroleum Dealers Association has announced a shutdown from 7 pm to 9 pm on Wednesday. Association's Vice President Paras Jain said that after the reduction of excise duty on petrol and diesel by the Central Government, the dealers have incurred a loss of about Rs 150 crore on the old stock. We have already paid higher duty on this stock.

He said that the difference between the new and old excise duty on petrol and diesel should be returned to the dealers. Simultaneously the commission should also be increased. Paras Jain said that about 4,900 petrol and diesel pumps will remain closed from 7 pm to 9 pm on Wednesday in protest against the excise duty. Let us tell you that the central government has cut the excise duty on petrol by Rs 8 per liter and on diesel by Rs 6 per liter last week. Excise duty has been cut by the central government for the second time in 7 months. Earlier in November last year, excise duty was reduced by Rs 5 on petrol and Rs 10 on diesel.

The same Finance Minister Nirmala Sitharaman said that by reducing the excise duty on petrol and diesel, the revenue of the Center will be Rs 1 lakh crore in a year. At the same time, after the reduction of excise duty by the Center, now once again the pressure has increased on the state governments to reduce VAT. The Bharatiya Janata Party has demanded non-BJP ruled state governments to reduce VAT on petrol and diesel. Some non-BJP territories like Maharashtra and Kerala have reduced VAT, but there are still some states which are categorically refusing to reduce VAT.

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