Impact of Punjab Bandh on economy, Govt incurs loss of more than Rs 90 crore from VAT and GST

But there was no loss from excise duty due to the opening of liquor shops after four o'clock.

Chandigarh: Punjab Bandh was successful for the farmers, but the Punjab government had to suffer heavy losses due to it. The government has suffered a loss of more than Rs 90 crore from VAT and GST alone. The interesting thing is that the government has suffered heavy losses from GST, VAT, revenue and other taxes. But there was no loss from excise duty due to the opening of liquor shops after four o’clock.

The Sanyukta Kisan Morcha (non-political) had called for a Punjab bandh last Monday in support of Jagjit Singh Dallewal, who was on a hunger strike demanding implementation of the demands accepted by the central government and legal guarantee of MSP. Due to this the market and other business places remained closed till four in the evening and traffic in the state came to a complete standstill.

The state’s trade was affected on a large scale due to the bandh and transactions worth lakhs of rupees came to a halt. According to the information received, there has been a loss of about Rs 58 crore from GST and about Rs 36 crore from petrol and diesel.

Similarly, 18 to 20 crore rupees are earned in the form of VAT from petrol and diesel. Due to the non-operation of trains, the central government, especially the railways, has suffered huge losses.