Punjab faces Rs 5,000 crore revenue loss in April

CHANDIGARH: Punjab would suffer Rs 5,000 crore

revenue

losses in the month of April because of total curfew imposed in the state to check the spread of novel coronavirus.

Finance minister

Manpreet Badal

told the council of ministers on Saturday during a meeting that the state's revenue loss was expected to go up in absence of revenue from Goods and Service Tax (GST) and petroleum taxes.

The Punjab

government

collects around Rs 3,250 crore per month from tax revenue and Rs 306 crore per month from

non-tax revenue

. Since the movement of almost all vehicles, except emergency vehicles, has come to a halt, the state government will lose revenue on account of collection of value added tax (VAT) from diesel and petrol. Similarly, the state government is losing excise duty because of closure of liquor vends.

The finance

minister

had earlier this week said that the state government was suffering loss of Rs 1,700 crore per day in gross state domestic product (GSDP). The state government, however, managed to pay March salary to its 3.50 lakh employees and pensions to 2.50 lakh pensioners on time.

by all government departments so that urgent expenses can be met to deal with current crisis.

The chief minister asked all government departments to submit detailed proposals by April 8 about expenditure cuts.

"We have to save people, that should be our priority," said Amarinder and added that resources have to be made available for health, police and other concerned departments directly involved in the battle, which threatens to be a long one.


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