Imphal: Deputy Chief Minister Y. Joykumar Singh Monday assured the House that the government will try to curb the prices of petroleum products further if the situation permits.
Replying to a Calling Attention Motion raised by AK. Mirabai Devi, on the reported loss of revenue of the State due to higher VAT in comparison to neighbouring States, Deputy Chief Minister (in-Charge of Finance) said that a news report published in the local dailies stating that Rs. 49.34 crores have been lost in the financial year 2019-20 is totally baseless.
Joykumar Singh said that in view of the current pandemic situation, the State Government has been considering ways to minimize the prices of petroleum products.
Admitting that some neighbouring states have lower VAT in petroleum products, he said, states like Assam, Meghalaya and Nagaland have greater Revenue Deficit Grants (RDG) than Manipur and therefore these States can have lesser VAT in petroleum products. Moreover, these states have adequate revenue resources other than petroleum products for revenue generation. But in our state VAT has been an important source of revenue generation. Although the state has been facing a tight financial situation, steps will be taken up to rejuvenate financial resources.
Earlier, AK Mirabai drew the attention of the House regarding the soaring prices of petrol and diesel which affects mainly the farmers in the State. She also urged the Government to reduce the current prices of petrol and diesel as in the case of other States in the North-East.
