Revenue-starved Punjab govt slashes power subsidy, increases VAT on fuels

To alleviate debt and increase state revenue, the Punjab government has raised VAT on petrol and diesel. Petrol now sees an additional 61 paise per litre in tax, while diesel is up by 92 paise per litre. The electricity subsidy for domestic consumers has also been reduced by Rs 3 per unit, reversing a previous cut.