Karnataka Government Raises Petrol and Diesel Prices by Rs 3 Per Litre Amidst Sales Tax Revision

Keywords: Karnataka, Petrol, Diesel, Prices, Sales Tax, Revision, Fuel, Increase, Government, Taxation

The Karnataka government has announced a hike in petrol and diesel prices by Rs 3 per litre, effective immediately. This move comes amidst a revision of sales tax on petroleum products, with the government citing the need for increased revenue generation.

The revised sales tax rates now stand at 34.47% for petrol and 33.22% for diesel. Prior to the revision, the tax rates were 31.47% and 32.22% respectively. This increase in sales tax, coupled with the Rs 3 per litre price hike, translates to a significant financial burden on consumers.

While the government emphasizes the need for increased revenue to fund various public welfare schemes, the move has drawn criticism from several quarters. Opposition parties have accused the government of exploiting the situation by burdening citizens with increased fuel costs.

Consumers are likely to face the brunt of this price hike, with the increased fuel costs impacting their daily expenses. The move is also expected to fuel inflation and impact the cost of transportation and other essential goods and services.

This development comes at a time when the global crude oil prices are volatile and rising, further adding to the pressure on fuel costs. The Karnataka government’s decision to raise petrol and diesel prices amidst such circumstances has sparked a debate on the effectiveness of taxation policies and the impact on the common man.