Bus fares have been reduced as a result of the reduction in excise duty and VAT on fuel prices
Bus fares have been reduced as a result of the reduction in excise duty and VAT on fuel prices
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Bhubaneswar: The private bus owners' association lowered bus charges under the automatic fee revision process on Saturday, a day after the Odisha government announced a 4% drop in Value Added Tax (VAT) on every litre of fuel and diesel.
Ordinary and express bus fares have been decreased by 5 paise per km, while deluxe and AC deluxe bus fares have been reduced by 10 paise per kilometre. The cost of super-premium buses has been reduced by 15 paise per kilometre, according to Debendra Sahu, secretary of the Odisha Private Bus Owners' Association.
Following the reduction of VAT, fuel and diesel prices fell by Rs 3.04 and Rs 2.86, respectively. The revised prices went into effect at midnight on Friday.
This came after the Centre reduced excise duties on fuel and diesel by Rs 5 and Rs 10, respectively.
In Bhubaneswar, petrol costs Rs 101.66 per litre, while diesel costs Rs 91.45 per litre.
The Chief Minister's Office (CMO) stated that the drop in VAT will be a huge relief to the people of Odisha, and that fuel and diesel prices in the state will likely be among the lowest in the country.
On October 16, the government hiked bus fees by three paise per kilometre for ordinary and express category buses, six paise per kilometre for deluxe and AC deluxe buses, and nine paise per kilometre for super-premium buses.
