Goa to lose Rs.165 crore over low petrol pricesJuly 23rd, 2012 - 5:18 pm ICT by IANS
Panaji, July 23 (IANS) Goa, where petrol prices are the lowest in the country, has earned the distinction at some cost to the government - about Rs.165 crore, which is big for the small state.
According to Chief Minister Manohar Parrikar, the exchequer lost Rs.30.68 crore in two months after the newly elected Bharatiya Janata Party-led coalition ministry virtually abolished value added tax (VAT) on the fuel, reducing it to 0.1 per cent.
“The average estimated loss for 2012-13 would be about Rs.165 crore per annum approximately,” Parrikar, also the state’s finance minister, told the Goa legislative assembly’s monsoon session in a written reply Monday.
According to the reply, Goa lost Rs.15.70 crore in revenue in April, while in May it lost Rs.14.98 crore.
Petrol in Goa is sold at Rs.61.19 per litre as compared to Rs.81.75 in Karnataka and Rs.78.57 in Maharashtra.
Petrol in Goa is the cheapest in the country.
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- Goa budget proposes to reduce petrol price by Rs.11 a litre - Mar 26, 2012
- Petrol price hiked by Rs.6.28 plus taxes, industry welcomes move (Second Lead) - May 23, 2012
- Petrol prices in Goa plunge - Apr 02, 2012
- Goa, where petrol price goes south! - Mar 29, 2012
- Parrikar flip-flop: Says no illegal mining in Goa - Jul 16, 2012
- Petrol price hiked by Rs.7, opposition and allies fret (Intro Roundup) - May 23, 2012
- Petrol price hiked by Rs.7, opposition and allies fret (Roundup) - May 23, 2012
- Goa plans mechanism to deter petrol smugglers - Apr 09, 2012
- Congress wants Parrikar to cut diesel price - Jun 06, 2012
- Petrol to be cheaper by Rs.2.46 a litre (Second Lead) - Jun 28, 2012
- Petrol prices to be cut by Rs.2.46 a litre (Lead) - Jun 28, 2012
- Parrikar's mining flip flop angers activists - Jul 17, 2012
- Cut tax to make diesel cheaper, say Delhi dealers - May 10, 2012
- Goa abolishes VAT on cooking gas - Jul 14, 2010