Mumbai, Jun 28 (IANS): Maharashtra Deputy Chief Minister Ajit Pawar, who holds the Finance portfolio, proposed a reduction in taxes on petrol and diesel in the areas of BrihanMumbai Municipal Corporation, Thane and Navi Mumbai as he presented the full budget for 2024-25 on Friday.

This is aimed to bring uniformity in tax on petrol and diesel following representations from petrol pump owners and vehicle owners.

The tax on diesel has been cut from 24 per cent to 21 per cent and on petrol from 26 per cent to 25 per cent per litre. This will bring in a relief of 65 paise per litre in petrol and Rs 2.07 per litre in diesel.

Pawar said that this would provide relief to the common citizens and industry and trade.

He also proposed exemption from professional tax to personnel of five Central armed paramilitary forces - the Assam Rifles, the Central Industrial Security Force, the Indo-Tibetan Border Police, the National Security Guard, and the Sashastra Seema Bal. This will benefit approximately 12,000 troopers.

Further, Pawar has proposed a reduction in the stamp duty penalty from 2 per cent to 1 per cent. ‘’If the registered document is found to have paid less stamp duty, the penalty levied on the difference in stamp duty amount from the date of execution of the document is reduced from 2 per cent to 1 per cent per month," he said.

He also proposed a refund of stamp duty with the initialisation of the online application process. The time limit for application will be one year from the date of purchase of the stamp, instead of six months.