The Cabinet on Tuesday approved diesel tax cut, aiming to stabilize prices at not exceeding 30 baht/liter for three months.
The Cabinet has approved a reduction in the excise tax rates for diesel and similar oils by one baht per liter for a period of three months, starting from January 20, 2024, until after the Songkran Festival on April 19. This measure aims to prevent a rapid increase in diesel prices, mitigating the impact on the cost of living for the public and businesses.
The measure will cost the government two billion baht per month in tax revenue, totaling six billion baht during the specified period.
Moreover, the Cabinet also approved budget spending of 3.6 trillion baht for fiscal year 2025, along with budget deficit of 713 billion baht. The government will tighten allocations to ensure alignment with state policies. (TNA)
