Petrol-diesel will be costlier by Rs 2 in this state, know the reason

The high prices of Petrol-Diesel all over the world including India is a matter of concern. Everyone is worried because of the continuous cost of petrol and diesel. Now in one state of the country, people have got a shock again and the prices of petrol and diesel are going to increase again. The name of this state is Kerala. The Union Budget of the country was presented on February 1, which was presented by Union Finance Minister Nirmala Sitharaman. This budget presented for the financial year 2023-24 became a topic of discussion among the people. Two days later, the State Budget was presented in Kerala, which was presented by Finance Minister K.N. Introduced by K.N. Balagopal. In this budget, he announced to increase in the price of petrol and diesel in Kerala.

Petrol-diesel price hiked by Rs 2 per litre in Kerala's state-level budget, to be implemented soon. Petrol price was recorded at Rs 107.71 per litre and diesel at Rs 96.52 per litre in Thiruvananthapuram, the capital of Kerala on Saturday. With the increase of Rs 2 on petrol-diesel, the new price will be implemented soon.

Kerala State Finance Minister K.N. Along with announcing the increase in the price of petrol and diesel, Balagopal also explained the reason for it in his budget speech. He said that the decision to impose this tax/cess on petrol and diesel has been taken after careful consideration. He called this tax a social security tax and said that this will increase the revenue of the state.

Along with this, Balagopal also said that the financial assistance to Kerala from the Central Government has been reduced, due to which the financial condition of the state may be affected this year. In such a situation, according to him, with the help of this tax being imposed on petrol and diesel, the social security fund of the state will increase as well as the revenue.