Effective from today, petrol prices in Goa have been increased by about Rs. 3.0, bringing the cost to about 57.75 per litre as against the previous Rs 55.24. The reason behind the hike is stated to be the 5% hike in value added tax (VAT) that was proposed by Chief Minister Laxmikant Parsekar during the maiden budget session.
Speaking more on the occasion, S G Korgaonkar, commissioner for commercial taxes said, “While prices will vary across the state, the cost of petrol will not exceed Rs 58 (per litre).” This is the second hike since December 2014, when the Laxmikant Parsekar led government had increased the VAT on petrol from 3 percent to 10 percent. Withe the fresh hike the Government is believed to generate an additional revenue of about Rs 100 crore.
The additional revenue amount shall be utilized for the implementation of the many infrastructure development schemes. However, the government has assured that if there is a steep increase of petrol price at the Centre, the decision shall be reviewed accordingly.
