In a major relief to the working-class in the State, the Tamil Nadu government on Friday announced to reduce the price of petrol by Rs 3 per litre.
Tamil Nadu Finance Minister Palanivel Thiagarajan while presenting the budget on Friday said that the petrol prices have been slashed by Rs 3 and because of this, the state government will face a deficit of Rs 1,160 crores in a year.
“Tamil Nadu has 2.6 cores of people using two-wheelers. Rs 3 is reduced in petrol by the Tamil Nadu government. Because of this government will face a Rs 1,160 crores deficit,” said the state minister.
According to the revised budget estimates 2021-2022, the state government has decided to reduce the effective rate of tax on petrol by Rs 3 per litre and thereby provide major relief to the toiling working-class people in the State. This measure will result in a loss of revenue of Rs 1,160 crore a year.
The Dravida Munnetra Kazhagam (DMK) government had presented its first budget after coming to power, months after it swept the April 6 Assembly elections.
The fuel prices have been increasing continuously across the country and have crossed Rs 100 in many states.