Please all Budget From Dispur!
Please all Budget From Dispur!
Dispur today announced central government pay scales for its 4.5-lakh employees. It has a budget deficit of 4.615 Crores for the fiscal year 2009-10.The present deficit is after Dispur has adjusted about 4722 crores it has as Deposit with the RBI.The deficit can be attributed to the proposed pay hike, which alone requires an additional 3615crores of Additional funds. The central taxes and a decline in oil royalty is the other reason for this increase in the Deficit.The Budget is a 67 pages document and proposes a slew of developmental activities and has addressed some long Standing demands. The sadou Asom Karmachari Parishad welcomed Dispur’s announcement. Education, health and the rural sector are other area of focus. It was presented as a “development oriented and Inclusive budget” with special focus on rural development, employment generation and good governance. It also increases funds for the police for anti-insurgency operations. It also proposes reduction in entry tax on Plants ad machinery from 4 to 2 % to encourage local industry. Medical Kits and equipments, implants, spectacles, contact lenses, spare parts of motor Vehicle, plywood, tarpaulin, railway items, furnace oil, stone crushing equipments and UPS up to 500KV will cost less .With reduction of VAT to 4% on these items.There will be 6% interest relief on crop loans upto 20000 rupees.
Tax Proposals:
- 1%cess on tax on registration of vehicles to create road safety fund.
- Rationalisation of entry tax with only two slabs of 4% and 2%.
- Reduction of VAT from 12.5% to 4% on certain items.
Other highlights:
- Creation of Assam Infrastructure financing authority.
- Setting up of children’s rights protection commission.
- Creation of urban and rural developmental council.
- Creation of a commission to suggest changes in land law and land policy.
- Interest subsidies on crop loans to farmers, working capital loans to weavers, dealers and spinners.
- .2% subsidy on rural housing loans.
- Creation of welfare funds to the tune of Rs.1 crore each for artisans ,sportspersons and journalists.
- Creation of minority development council.
- Establishment of a medical college and engineering college in the two hill districts of Assam.
- 50 new hospitals in the interior areas.
- Setting up of an advisory council on climatic change.
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