Good news for Mumbai region! Petrol and diesel to get cheaper in MMR; check details

In good news for people residing in the Mumbai metropolitan region, fuel prices are going to be reduced as the Maharashtra government on Friday decided to slash the value-added tax (VAT).

The announcement to slash the VAT was made by Ajit Pawar, the Deputy Chief Minister and Finance Minister, while presenting the Maharashtra Budget 2024-25.

The slashed VAT will make petrol cheaper by 65 paise per litre and diesel by ₹2.60 per litre.

Tax on diesel is being decreased from 24 percent to 21 percent, while petrol being decreased from 26 percent to 25 percent.

The announcement comes ahead of the state assembly polls, which are likely to be held on October.

Ajit Pawar said that the decision would be applicable only in the Mumbai metropolitan region.

The minister added that the move will cost the state exchequer ₹200 crore.

"The VAT cut has been proposed in the budget. Once the budget is passed by the state legislative assembly and the council, the decision will come into effect from July 1," said Chief Minister Eknath Shinde.

Other announcements made in budget 2024

— All women between 21 and 60 years will be given ₹1,500 per month under Mukhyanantri Majhi Ladki Bahin (CM My Beloved Sister) scheme.

— Govt to provide ₹5000 per hectare bonus to all farmers for their crops of cotton and soybean in Maharashtra

— 3 free cylinders every year to all households Under CM Anna Chhatra Yojan

— Medical insurance limit for families increased from ₹1.5 lakh to upto ₹5 lakhs.

— The number of Empanelled Hospitals being increased from 1000 to 1900 hospitals

— 44 lakh farmers in Maharashtra to get waiver of electricity bill dues

The monsoon session of the Maharashtra Assembly began on Thursday (June 28) and will go on till July 12.