CHENNAI: Speaking about the petrol price cut in the State, Finance Minister Palanivel Thiaga Rajan said, “The sale of petrol has increased by 12 per cent after the State government reduced the price.
Through this, the Union government will get Rs 3.55 crore additional income a day and around Rs 1,200 crore a year. “It would be good if Prime Minister Narendra Modi and Union Finance Minister Nirmala Sitaraman expressed their thanks to our Chief Minister MK Stalin for providing the Union government this additional income.”
Speaking about the loss of State revenue, the Minister said that the 14th Finance Commission had assumed that the State’s revenue would be Rs 8.12 lakh crore from 2015- 2020. “But, the State had generated around Rs 3 lakh crore less than their expected figure,” he added.