Bengaluru: Petrol and diesel in Karnataka will cost more from April 1, as the state budget for fiscal 2020-21 has proposed a 3 percent increase in VAT on both the most consumed fuels, Chief Minister B.S. Yediyurappa said on Thursday.
“Petrol price will increase by Rs 1.60 per liter and diesel by Rs 1.59 a liter from April 1, as I propose to increase 3 percent value-added tax (VAT) on both the fuels,” Yediyurappa said while presenting the state budget for the ensuing fiscal in the state legislative assembly at Vidhana Soudha.
The budget proposes to increase VAT on petrol to 35 percent from 32 percent and on diesel to 24 percent from 21 percent.
“Even after this increase, the price of petrol and diesel in Karnataka is less in comparison to those prevailing in the neighboring states,” Yediyurappa, who also holds the finance portfolio, told the lawmakers in Kannada.
March 5 (IANS)