Diesel Prices in Jammu and Kashmir to Marginally Increase
The recent decision by the government to reduce the rebate on High-Speed Diesel (HSD) by ₹2 per litre will lead to a slight increase in diesel prices in Jammu and Kashmir. This move aims to boost revenue generation while ensuring social welfare spending remains intact.
Chief Minister Omar Abdullah, during the Budget presentation, emphasized the need for exploring all avenues to increase revenues while continuing to support the less privileged. He highlighted the significance of maintaining fiscal discipline through austerity measures and improving the efficiency of public expenditure.
By reducing the HSD rebate, the Chief Minister believes that diesel prices will be rationalized, promoting a gradual transition towards cleaner technologies. Despite this adjustment, diesel prices in Jammu and Kashmir will still be lower compared to neighboring states like Punjab, Haryana, Himachal Pradesh, and Delhi.
The government asserts that this decision strikes a balance between fiscal consolidation and environmental responsibility, ensuring competitive fuel prices in the region.
