Panaji: Slashing of petrol prices in Goa has resulted in massive boost in sales at fuel outlets in the state, officials have said.
Various petrol pumps have registered almost two-fold increase in sales in the last two days.
The State's new BJP-led Government had reduced VAT (value-added tax) on petrol from 20 per cent to mere 0.1 per cent. The decision, announced in the budget presented last month by Chief Minister Manohar Parrikar, had come into effect from Monday.
The reduction has resulted in heavy rush at fuel stations in the tourist state.
Government officials said Goa recorded an average daily sale of petrol worth Rs 2.3 crore before the new rate came into effect. Now the sales have touched Rs 3.5 crore-mark a day.
Commercial Taxes Department officials said annual compounded growth of 25 per cent had been earlier projected from VAT collection from petrol.
"After the recent announcement, VAT of Rs 1 crore, as against earlier projection of Rs 210 crore, will be collected," a senior official said.
The state earlier collected Rs 47 lakh per day in form of VAT on petrol, which will now be reduced to Rs 27,000 per day, he said.
Parrikar had earlier said the amount collected from VAT on petrol would be used to strengthen monitoring on the state's borders so that the commodity is not smuggled outside Goa.
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