Exempt loan interest, income taxes: Organisations

Imphal: Considering the issues faced by the people of Manipur with the 275 days long crisis, Meetei/Meitei Tribe Union, Meetei Pangal Welfare Organisation and Awang Sekmai Advance Women’s Society have made an open appeal to state and central government to exempt income tax and all form of loan interest.

The open appeal was made in a demonstration held at community hall, Keishampat Leimajam leikai, Imphal on Friday.

Secretary administration of Meetei/Meitei Tribe Union, Mutum Churamani said after the May 3 incident of last year, people of Manipur have been suffering on various forms.

As an impact of the crisis, over 70,000 people have been displaced and the market of Manipur has been getting down drastically. Contractors who took loan for buying heavy machineries, passenger vehicle owners, entrepreneurs who open their stores at vulnerable areas are not able to continue their business. With the reason all the items that are bought by taking loans from the bank are becoming non-performing assets. The respective banks are still continuing to ask for paying the loan debt, he added.

Meanwhile, many of the state and central employees are also paying income tax. For the state employees approximately Rs 139 crore are paid as income tax annually while Rs 346 crore are paid by the central employees. Altogether the employees of Manipur including both state and central employees are paying a sum of around Rs 500 crore as income tax which goes to central government, Churamani said.

He appealed both the state and central government to exempt the loan interest from the loanee till normalcy returns in Manipur and  appealed to exempt the income taxes from both state and central government employees.

The authority concerned should extend the loan maturity period, he added.

Instead the government should provide a special financial package for internally displaced people who are suffering the most in the crisis, Churamani appealed.

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