Delhi government has slashed VAT on petrol bringing relief to the consumers to the tune of Rs 1.26 on petrol. The government has decided not to charge 20 per cent VAT on the hike-amount. State-run oil marketing firms had last Wednesday announced the steepest-ever hike in petrol prices - Delhi saw a Rs. 7.50 a litre jump. Announcing the move while presenting the budget for Delhi, Chief Minister Sheila Dikshit also said that CNG would cost more in the capital with a proposed levy of 5% tax.
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