Petrol price cut announced by Tamil Nadu FM; Rs 3 drop to cheer consumers
Petrol price cut to bring revenue loss of Rs 1,160 cr to state exchequer The Dravida Munnetra Kazhagam government in Tamil Nadu, led by Muthuvel Karunanidhi Stalin, has done what most other states have hitherto hesitated to do. In his maiden budget on Friday, Tamil Nadu’s Finance Minister P T Palanivel Thiagarajan (PTR as he is popularly known as) thought from the side of the people to bring forth a Rs 3 cut in the price of petrol - much to the relief of the commoner. PTR, presenting the revised budget estimate for the state for 2021-2022, announced a slash in petrol price by Rs 3, stating that he was going for the price reduction as per the directions of Chief Minister M K Stalin. He hastily added that the price cut would bring a revenue loss of Rs 1,160 crore to the state exchequer. Petrol price cut brings relief to people The price reduction move comes as a relief to customers who have been reeling under the continuous hike in fuel prices. People across the country have been clam