Nagaland reels under financial crisis, govt hikes fuel prices

After the fuel-tax hikes in Nagaland, Petrol prices increased by Rs 3.60 and diesel by Rs 2.76 per litre.
Nagaland reels under financial crisis, govt hikes fuel prices
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KOHIMA

The fuel-tax hikes in Nagaland came into effect from Friday, November 13, following a notification issued by the government on November 12.

Petrol prices increased by Rs 3.60 and diesel by Rs 2.76 per litre.

The decision to hike the price of fuel comes in the wake of a financial crisis Nagaland is going through, with a deficit of Rs.108 crore per month.

On being asked about the fuel hike, Nagaland Chief Minister Neiphiu Rio said, “it was a normal hike”, adding that the fuel prices in the state were lower than the neighbouring states if compared.

The notification said that the tax on diesel was an amended rate from 14.5 per cent to 17.50 per cent or Rs 11.08 per litre, whichever is higher.

The tax rate on petrol and other motor spirit increased from 25 per cent to 29.80 per cent or Rs 18.26 per litre, whichever is higher.

(Edited by Gabriel Momin)

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