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The Manohar Parrikar-led Goa government’s populist measure to exempt Value Added Tax (VAT) on petrol has shrunk revenue collections from this product from Rs 157 crore, to a mere Rs 1 crore during last year.
Data tabled on the floor of the House revealed that during Financial Year 2012-13, VAT collected from petrol was only Rs 90.96 lakh as against Rs 157 crore during FY11-12.
For five months of the current financial year, VAT collection on petrol has been just Rs 37.74 lakh. After taking over the reigns of the state, Goa Chief Minister Manohar Parrikar had reduced VAT on petrol from 20 per cent to only 0.1 per cent, drastically slashing the rate of petrol by Rs 11 per litre. However, the Goa state government did not exempt VAT on diesel.
Data tabled on the floor of the House, indicated that Rs 130 crore was collected as VAT on petrol during FY10-11, while Rs 1.05 crore was collected for FY09-10, though the VAT collection on diesel, remained stable with Rs 269 crore collected during FY12-13, Rs 295 crore for FY11-12, Rs 265 crore for fiscal 2009-10 and 2010-11.
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