Excise duty increased by 4%

Siddaramaiah met with Revenue Department officials

1 litre of petrol costs Rs 102.87 in Bengaluru

The increase in petrol and diesel prices has created distress among people of Karnataka. There are speculations that the price rise is designed to adjust for the shortfall in the government’s treasury. The duty charges on petrol and diesel have been increased. 

The opposition parties have lashed out at the state government over this development. They have claimed that the development comes in light of the conclusion of the 2024 Lok Sabha Elections. They have also blamed the guarantee schemes of the government for having caused a depletion of resources for the state. The Karnataka Bharatiya Janata Party (BJP) State President B.Y Vijayendra also spoke about this issue.

Also Read: Karnataka: Producers to hold to discussion with CM Siddaramaiah to address immediate concerns

The state government has increased the excise duty by 4%. The price of petrol in Bengaluru has crossed the Rs 100 mark. Presently, 1 litre of petrol costs Rs 102.87 in Bengaluru. Diesel has touched the price of Rs 88.95 per litre. The increase in oil tax is expected to bring Rs 3000 crore as revenue for the government. This increase will also have an effect on the price of other products. 

The Chief Minister held a meeting with officials of the Revenue Department. The overall target set for the department was a collection Rs 1,10,000 crore for the financial year of 2024-25.