Bengaluru: The Karnataka government has increased sales tax on fuel to boost revenue, resulting in a rise in petrol and diesel prices. Chief Minister Siddaramaiah aims to generate Rs 2,500-2,800 crore by hiking petrol prices by Rs 3 and diesel by Rs 3.5 per litre. The Finance Department notified a 3.92% increase in sales tax on petrol and a 4.1% hike on diesel.
After the disappointing Lok Sabha poll results, the government is focusing on resource mobilisation. Siddaramaiah, also the finance minister, recently reviewed the state’s fiscal position. This year, Rs 52,009 crore has been allocated for Congress’ ‘guarantee’ schemes, necessitating the need for additional revenue.
With challenges in revenue collection due to the election code of conduct, Siddaramaiah urged officials to meet targets. The government is under pressure to meet financial obligations amid concerns over slowed revenue growth.
Published 15 June 2024, 11:16 IST
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