Odisha to lose Rs 2,173.91 cr towards VAT from Paradip Oil Refinery in 2016-17

29 March, Bhubaneswar

Odisha government is estimated to lose Rs 2173.91 crore towards collection of VAT during the 2016-17 financial year as per the agreement it had signed with the Paradip Oil Refinery in 2004.

Odisha Finance Minister Pradip Kumar Amat told this in the state Assembly while replying to a question of Amar Prasad Satpathy (BJD).

Amat said an executive committee has been formed under the Chairmanship of the Secretary Petroleum and Natural Gas for the reconsideration of the agreement.