Pon Radhakrishnan takes up 3rd party insurance issue with finance ministry
Chennai: Aiming to ensure the supply of essentials is not hit in the wake of proposed countrywide strike by the truckers association from Thursday, Union minister of state for road transport, highways and shipping Pon Radhakrishnan, who hurriedly convened a meeting with members of the South Zone Motor Vehicles Association, has assured that the IRDA (Insurance Regulatory and Development Authority) may not increase the premium before discussing the issue with the transport associations as well as his ministry.
Also, on the steep hike of VAT on diesel in Tamil Nadu, the minister while appealing to truckers to withdraw the strike, told the representatives to discuss the subject with the state government for a favourable solution. Immediately after he met the representatives of various transport associations including South Zone Motor Vehicle Association, Radhakrishnan took up the issue of steep hike in the third party motor insurance with the ministry of finance.
While discussing the issues with the truckers at the national capital on Tuesday night, Radhakrishnan informed that the Insurance Regulatory and Development Authority (IRDA) of India might not increase the premium before discussing the subject with the transport associations and his ministry as well.
Third party motor vehicle insurance, speed governors and hike of Value Added Tax (VAT) on diesel (in Tamil Nadu) are among the demands put forth by the various transport associations. Since the decision on enhancing the VAT on fuel was made by the TN government, he suggested that the associations could initiate talks with state government to resolve the problem.
Tamil Nadu government had enhanced the VAT on petrol to 34 per cent and high-speed diesel oil to 25 per cent from 27 and 21.43 per cent respectively, aiming to mop up the revenue.
“I have requested them to cancel the proposed protest since it will affect the supply of essential items to common people,” Mr Radhakrishnan said.
