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Wednesday, September 29, 2021

Will curb rising prices of petroleum products if situation permits: Manipur Deputy CM

Y Joykumar Singh was replying to a calling attention motion raised by opposition MLA A K Mirabai Devi on the reported loss of state revenue due to higher VAT when compared to the neighbouring states.

Written by Jimmy Leivon | Imphal |
Updated: August 23, 2021 10:15:46 pm
FuelThe soaring prices of petrol and diesel affects the farmers in the state, opposition MLA A K Mirabai Devi said. (Representational photo)

Manipur Deputy Chief Minister Y Joykumar Singh on Monday said in the Assembly that the state will try to curb the rising prices of petroleum products if the situation permits.

Singh was replying to a calling attention motion raised by opposition MLA A K Mirabai Devi on the reported loss of state revenue due to higher VAT when compared to the neighbouring states. Singh, who is also in charge of the finance portfolio, said reports of losses amounting to Rs 49.34 crore in the 2019-20 financial year were totally baseless.

Mirabai said the soaring prices of petrol and diesel affects the farmers in the state.

Speaking on VAT, the Deputy CM said states like Assam, Meghalaya and Nagaland have greater revenue deficit grants than Manipur and therefore can have lesser VAT on petroleum products.

Moreover, these neighbouring states have adequate resources for revenue generation other than petroleum products, he said. But VAT remains an importance source of revenue in Manipur, he added.

However, Singh said the state government has been considering ways to minimise the prices of petroleum products in view of the current pandemic situation. “Steps will be taken to improve the resources despite the financial problems the state is facing,” he said.

In July, Manipur had imposed a budgetary ceiling — the third time in less than a year —to control expenses. The measure, as per the finance department, was taken up citing serious impact on the state resources due to the pandemic.

In the latest curb, the budgetary ceiling was fixed in as many as 12 categories without different ceiling amounts.

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