UP govt cuts taxes on petroleum products

Lucknow, Jun 7 (UNI) In a populist measure, the Uttar Pradesh government today announced a reduction of State Trade Tax on petroleum products which would result in lowering of petrol and deisel prices per litre by Rs one and Rs 1.50 respectively in the state.

The government also decided to reduce the Trade Tax on the LPG cylinder which would reduce gas prices by Rs 11.35 per unit.

A decision to this effect was taken at a Cabinet meeting here chaired by Chief Minister Mayawati.

Announcing this at a press conference, she said it would cause the state a revenue loss of Rs 2500 crore annually.

''Despite this the BSP government has taken this decision in the larger interest of the farmers, poors, downtrodden and middle class,'' she claimed.

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