Vat On Fuel Prices In Goa Will Reduce Depending On The State’s Financial Status

As the increased petrol prices have displeased people, the chief minister Pramod Sawant said that the Goa government will try to decrease the VAT on fuel whenever it’s possible. The reason the fuel prices were hiked was because Goa’s economy was badly affected due to the Covid-19 pandemic. The state’s revenue had gone low and dues under the GST compensation mechanism had to be cleared.

“Government will try reducing state’s share of VAT imposed on petrol and petroleum products, whenever possible,” said Sawant. “It will depend on the receipt and expenditure scenario at relevant point of time.” Goa earned just Rs 625 crore in 2020-21 till December but obtained Rs 1,124 crore in 2019-20. During the last week petrol prices kept shifting between Rs 88.27 and Rs 89.15. Petrol was cheaper by 18 paise and diesel by 17 paise per litre.

Goa’s public debt is likely to reach Rs 17,962.24 crore by the end of March this year. 

(Displayed image is not an actual image and is strictly for representational purposes only)

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Author: Planet Goa Team
For us at Planet-Goa, our team is driven by that feeling of exhilaration that one gets when discovering that something ‘unique’ and ‘new’ about Goa for our ever-so-discerning readers.

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