TN Budget: Petrol Cheaper By Rs 3 As Stalin-Led DMK Govt Cuts State Tax

Finance Minister PTR Palanivel Thiaga Rajan also said that this could incur a loss of around Rs 1,100 Crore to the state government.

TN Budget 2021: Petrol price to fall by Rs 3

Chennai: Finance Minister PTR Palanivel Thiaga Rajan presented the Tamil Nadu budget for the year 2021-22 in the Assembly today. It has been announced that the state tax on petrol will be reduced by Rs 3 as a key feature of the budget. Currently, petrol per litre cost stands at Rs. 102.49 in Chennai.

General Secretary of the Tamil Nadu Petrol Dealers Association, Haider Ali, welcomed the announcement. He said, "But percentage of tax reducation is not clear. Only if we know the percentage details, more could be commented on the issue. If Rs 3 is reduced in the tax, it should also reflect in petrol price." 

This means that petrol prices are expected to fall by up to Rs 3. Finance Minister PTR Palanivel Thiaga Rajan also said that this could incur a loss of around Rs 1,100 Crore to the state government.

For the first time in the history of the legislature a paperless budget has now been tabled. Ahead of the finance minsiter's speech just ahead of the budget commencement, AIADMK members walked out in a frenzy accusing the DMK government of deceiving the people of Tamil Nadu for making false promises.

Finance Minister PTR began his speech quoting the statement that the government is capable of creating, protecting and guarding. "This revised budget statement is applicable for the remaining 6 months of this financial year," he said.

It has been announced that the state tax on petrol will be reduced by Rs 3 per liter. "One of the promises we made was to correct the debt burden of the state and improve the financial position. Electoral promises will be prioritised and implemented gradually. The White Paper proved that the financial management of Tamil Nadu has been affected by various national events. The central government of the federal principle working against white paper have shown that petrol and diesel prices to the states. The onus is on the US government to provide a fair share to consumers.

The study to find these funds in government departments and institutions has found that there are substantial funds. A special committee will be set up under the senior official of the Finance Department to fully rectify the above accounts and identify the unutilised and usable funds. All state funds will be placed under the control of the Treasury," explained the finance minister while announcing the cut in petrol prices. 

(This story originally appeared on ABP Nadu -- It is a Tamil platform of ABP News. For more news, commentary and latest happenings from Tamil Nadu, follow https://tamil.abplive.com/)