Punjab Bandh Hits Hard: GST Department Loses ₹58 Crore, State Government Over ₹90 Crore

Chandigarh (The Uttam Hindu): The Punjab bandh has caused significant financial losses for the government. The GST department alone incurred a loss of ₹58 crore, while the state government faced a total loss of over ₹90 crore from VAT and GST. Additionally, the government suffered losses from various taxes such as GST, VAT and revenue.

The industry in Jalandhar also experienced losses running into crores of rupees. However, the opening of liquor stores after 4 PM ensured there was no impact on excise duty. The farmers' protest, which started in February last year with demands for a legal guarantee on Minimum Support Price (MSP) for crops has been ongoing at Shambhu and Khannori borders. Farmer leader Jagjit Singh Dallewal's hunger strike at the Khannori border entered its 37th day today (Wednesday).

The GST department lost ₹58 crore due to the bandh, as trade in the state was severely affected and transactions worth millions were halted. The loss from GST is approximately ₹58 crore and from petrol and diesel, the loss amounts to around ₹36 crore. Furthermore, the state typically earns ₹18 to ₹20 crore in VAT from petrol and diesel. The suspension of trains also caused significant losses to the central government, especially the railways.