Saturday, September 17, 2011: The State government today decided to give up the tax that would accrue to the state from the recent hike in the price of petrol.
The decision, that will reduce the petrol price by 70 paise per litre in the state, was taken after the discussions with state Finance Minister K M Mani on reducing the impact of the hike on the people.
Announcing the relief measure, Chief Minister Oommen Chandy said the state would suffer a revenue loss of Rs 108 crore a year on account of this.
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