Waive UTs loan: CPI to Centre

PUDUCHERRY: The Puducherry unit of the Communist Party of India (CPI) on Wednesday asked the Central Government to waive the loan dues of the state government.According to a release from CPI state secretary R Viswanathan, a resolution adopted at a meeting of the State committee recently,   urged the political parties to put pressure on the Central government to waive the loans, which would lessen the burden of payment of interest. The amount saved could be utilised for implementing development schemes. It may be recalled that the state has a loan due of more that `4040 crore.The CPI wanted the UT government to withdraw the hike in VAT on hotel products, motor vehicles, electrical goods and other consumer commodities as it was affecting business badly.