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Union Budget 2019: Petrol, diesel set to get costlier

By Anuj Cariappa
|

New Delhi, July 05: Petrol and diesel is set to get costlier post the Union Budget 2019.

In her maiden budget speech, Nirmala Sitharaman said that she proposed to increase special additional exercise duty and road and infrastructure cess by Re 1 a litre on petrol and diesel.

Union Budget 2019: Petrol, diesel set to get costlier

The Bharat Petroleum shares had earlier today opened at Rs 380.25. The stocks fell by 2.42 per cent ahead of the Union Budget. The prices of petrol and diesel will now go up by Re 1.

Meanwhile, Gold too is set to get costlier as the customs have gone up from 10 per cent to 12.5 per cent, the Finance Minister said.

The government also announced tax benefits for those making a purchase of Electrical Vehicles. The government has already moved the GST council to lower the rate on EVs from 12 per cent to 5 per cent.

Also to make EVs more affordable for consumers, the government will provide additional income tax deduction of Rs 1.5 lakh rupees on the interest paid on the loans taken to purchase EVs.

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