Petrol price cut by Rs. 3 in Tamil Nadu at cost of Rs. 1,160 Crore to state.

n a big relief for people in Tamil Nadu, the state government today said it would reduce petrol price by ₹ 3 per litre. Tamil Nadu Finance Minister Palanivel Thiagarajan, while presenting the state budget today, said petrol price has been cut by ₹ 3 and because of this, the state will incur a cost of ₹ 1,160 crore a year.

“2.6 core people in Tamil Nadu use two-wheelers. We have reduced ₹ 3 in petrol price, and due to this we will face a ₹ 1,160 crore deficit,” Mr Thiagarajan said, according to news agency ANI.

This was the first budget presented by the Dravida Munnetra Kazhagam (DMK) government of Chief Minister MK Stalin after the party swept the assembly election in April this year.

Fuel prices have been rising across the country and have breached the ₹ 100 mark in several states.