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Panel to review Odisha-IOC pact

Panel to review Odisha-IOC pact

The Odisha Government said a committee has been set up under the Chairmanship of the Secretary of Petroleum and Natural Gas Ministry to review its agreement with Indian Oil Corporation. The government estimates a revenue loss of Rs.2,173 crore during 2016-17 due to VAT exemption to the refinery project. Finance Minister Pradip Kumar Amat said the state has already lost revenue of Rs.475 crore thus far.

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