Petrol & Diesel Price On 29 Oct: Once Again Prices Increased
Petrol & Diesel Price on 29 Oct: Petrol-Diesel prices raised again, know at what rate fuel is being available in your city.
On Friday, once again the prices of petrol and diesel were seen increasing.
Oil prices across the country have reached an all-time high as the prices of petrol and diesel have risen following a steady rise in international oil prices.
According to the price notification of the state-owned fuel retailers, the prices of petrol and diesel have been hiked again by 35 paise per liter.
After the increase in prices, the price of petrol has gone up to Rs 108.64 per liter and diesel to Rs 97.37 per liter in the capital Delhi.
At the same time, the price of petrol in Mumbai has gone up to Rs 114.47 per liter and that of diesel to Rs 105.49 per liter.
At the same time, in Kolkata today petrol is being sold at Rs 109.12 per liter and diesel at Rs 100.49 per liter.
Whereas, in Chennai, you will have to spend Rs 105.43 for a liter of petrol and Rs 101.59 for a liter of diesel.
Center gave the remaining Rs 44,000 crore to the states as a loan facility for GST compensation
The Center released the remaining Rs 44,000 crore under the loan facility to the states to compensate for the shortfall in GST collection.
With this, this amount has increased to Rs 1.59 lakh crore in the current financial year.
The funds released under the loan facility are in addition to the amount being given as GST compensation for two months.
The GST compensation to the states is being given from the amount received from the cess collection.
In the 43rd meeting of the GST Council on May 28 this year, it was decided that the Center would take a loan of Rs 1.59 lakh crore in 2021-22 and release it from time to time to the states and union territories with legislatures.
So as to bridge the gap in resources due to shortfall in compensation due to insufficient amount collected in GST Compensation Fund.
This amount is in line with the principle adopted in the last financial year 2020-21. During that time Rs 1.10 lakh crore was released to the states.
In a statement, the Finance Ministry said, “The ministry on Thursday released Rs 44,000 crore to the states and union territories with legislatures in lieu of GST compensation. This amount has been released under the loan facility arrangement.
Earlier, the ministry had released Rs 75,000 crore and Rs 40,000 crore on July 15 and October 7 respectively.
According to the statement, with the release of Rs 44,000 crore on Thursday, Rs 1.59 lakh crore has been given under the credit facility system in lieu of GST compensation in the current financial year.
This total amount of Rs 1.59 lakh crore is in addition to over Rs one lakh crore corpus (based on cess collection) which is estimated to be released to the States/UTs having legislatures during this financial year.
