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Today’s petrol and diesel prices in Mumbai are lower. Check out the most recent rates in other cities.
After Finance Minister Nirmala Sitharaman announced a cut in excise duty on petrol of 8 rupees per litre and diesel of 6 rupees per litre on Saturday, the prices of petrol and diesel have remained unchanged today.
After taking into account the impact on other levies, the excise duty cut will result in a reduction of 9.5 cents per litre on petrol in Delhi and 7 cents per litre on diesel. When the excise cuts take effect today, petrol will cost 96.72 per litre in Delhi, compared to 105.41 currently, and diesel will cost 89.62 per litre, compared to 96.67 currently.
The Maharashtra government slashed the value-added tax (VAT) on petrol and diesel on Sunday, a day after the central government announced a reduction in fuel prices. The VAT on petrol has been reduced by 2.08 per litre, while the VAT on diesel has been reduced by 1.44 per litre.
After the reductions in excise duty and VAT, a litre of petrol will cost 111.35 in Mumbai, and a litre of diesel will cost 97.28. Petrol and diesel prices in Chennai are 102.65 and 94.24 per litre, respectively. Petrol costs 106.03 in Kolkata, while diesel costs 92.76. One litre of petrol will cost 101.94 in Bengaluru, while one litre of diesel will cost 87.89. One litre of petrol will cost 97.81 in Gurugram and diesel is 90.05 in Delhi.
Petrol is subject to excise duty imposed by the federal government. Similarly, the state government imposes ad valorem VAT on gasoline. The VAT on gasoline varies by state. The VAT is automatically reduced because the centre has reduced the excise duty on diesel and gasoline.
The Centre has repeatedly urged states, particularly non-BJP-ruled states, to lower VAT on gasoline and diesel, but the states have refused.
The move came after opposition parties and economists criticised the government’s inflation management. WPI (wholesale price inflation) hit a new high of 15.08 percent in April, while retail inflation hit a near-eight-year high of 7.79 percent.
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Following US SEC charges of bribery against Gautam Adani, opposition parties criticise PM Narendra Modi and call for a JPC investigation.
As billionaire Gautam Adani faces charges in the US for alleged bribery and fraud, the Opposition on Thursday intensified its attack on the Centre over its alleged links with the Adani Group.
Gautam Adani has been charged in the US with allegedly paying $250 million in bribes to Indian officials between 2020 and 2024 to secure favourable terms for solar energy contracts. The scheme, prosecutors said, could have earned Adani’s group over $25 billion in profits.
Congress demands JPC probe
Reacting to the charges, the Congress called for a Joint Parliamentary Committee (JPC) probe into alleged scams involving Adani’s conglomerate. The party also demanded the appointment of a “new and credible” Sebi chief to investigate Adani’s financial dealings and compliance with securities laws.
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Congress leader Jairam Ramesh said the US Securities and Exchange Commission’s (SEC) actions highlight the failure of Indian institutions to investigate the group. “The indictment vindicates Congress’s demand since January 2023 for a JPC into the Modani scams,” Ramesh wrote on X.
He accused Prime Minister Narendra Modi of shielding Adani and claimed Congress’s “Hum Adani Ke Hain Kaun” (HAHK) series had exposed the businessman’s alleged fraud and his ties with the PM.
The fact that it has taken a foreign jurisdiction to properly investigate Adani only shows how Indian institutions have been captured by the BJP, and how decades of institutional development have been undone by greedy and power hungry leaders, the Congress leader said in another post.
“All of this is consistent with a long record of fraud and criminality carried out with impunity with the obvious protection of the Prime Minister,” Ramesh charged.
Other Oppn leaders join attack
Other opposition leaders joined the attack. Trinamool Congress MP Saket Gokhale questioned the BJP’s involvement in Adani’s dealings and demanded an independent judicial probe.
Aam Aadmi Party leader Sanjay Singh accused PM Modi of allowing Adani to tarnish India’s global reputation.
ALSO READ- Adani Group shares plunge after US SEC charges, Adani Green down 16%
Adani stocks latest updates
The allegations rattled markets, with Adani Group stocks plunging. Adani Enterprises fell 20 per cent in pre-open trade, while shares of Adani Ports, Adani Green, Adani Power, and others dropped between 7 per cent and 18 per cent.
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