No plan to cut in tax rate on petroleum products

Kerala Finance Minister T M Thomas Issac today said that the government has no plan to cut tax rates on petroleum products.     

The empowered committee of State Finance Ministers have also taken a decision not to unilaterlay make changes in rate of tax on petroleum products, Issac said while replaying to a submission in the assembly.     

Stating that there was no justitication for the hike in prices of petroleum products, Issac said the opposition Congress should join hands with the government in putting pressure on Cenntre to roll back the price rise.     

Industries Minister Elamaram Kareem said that the government was aware of the crisis in Handloom sector n the state.      

He said the government would ask the Centre to consider the special package for waving the loss of Handloom co-operative societies and Apex Societies.      

Kerala had submitted a memorandum to National Bank for Agricultural and Rural Development in this regard during the preivous UPA rule, he said while replying to a calling attention. However, the package has not received sanction, he said.      

As per an estimate the loss for co-operaive socities was about Rs 361 crore while that of Apex Societies was Rs 221 crore, he said.        Kerala government was also planning to conduct a two-year long campaign to increase the domestic market for handloom and Khadi textiles, he added.