Deficit budget presented in Arunachal house

Deficit budget presented in Arunachal house
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Mar 16, 2013, 06.29 PM | Source: PTI

Deficit budget presented in Arunachal house

Deficit budget presented in Arunachal house

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Deficit budget presented in Arunachal house

Deficit budget presented in Arunachal house

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Itanagar, Mar 16 (PTI) Arunachal Pradesh Finance Minister Chowna Mein today presented a Rs 290.81 crore deficit budget for the year 2013-14 with new tax proposals. The budget gave stress was on economic growth, infrastructure development, strengthening human and intellectual capital, social capital and physical capital in all sectors of the state's economy. The budget estimate shows a receipt of Rs 8164.87 crore under the consolidated fund out of which Rs 8161.02 crore is on revenue account and the remaining Rs 3.85 crore under capital account, Mein said in his budget speech. "Total expenditure from the consolidated fund of the state in 2013-14 under Non-Plan is estimated at Rs 3368.02 crore of which 3135.28 crore is on revenue account and 232.74 crore on capital account," he said. To increase tax collection, the state government proposed to levy Luxury Tax on luxuries provided in hotels and resorts besides professional tax for certain professions. The budget proposed to revise the rate of civic charges by 20 per cent which was last revised during 2007. A new interest waiver scheme was also proposed for recovering outstanding electricity bills. In the education sector, the finance minister proposed several initiatives which includes best school award. "A new fixed deposit scheme 'VIDYA' will be launched for girl students of class V for continuing education with an initial deposit of Rs 5000. This will be made available to them only after completion of Class XII," Mein said. He said five new polytechnics at Dirang, Laying, Pasighat, Namsai and Roing would start functioning from July and more such institutions would be opened in other districts. "To boost agriculture sector, Arunachal Pradesh Krishi Karman Award will be instituted besides providing financial benefit to farmers under the chief minister's agriculture mechanisation programme launched in December," Mein said. The government proposed to establish a Tea Board and a Rubber Board and also reduce VAT on local sale of tea from the existing 12.5 to 4 per cent. He proposed providing rice to BPL families at Rs 3 a kg and, he said adding “We are contemplating to provide jobs to 25000 youths during the next financial year. PTI UPL NN TVS

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