The Hindu : Andhra Pradesh News : No going back on VAT: Rosaiah

Online edition of India's National Newspaper
Sunday, Mar 27, 2005

Andhra Pradesh

Andhra Pradesh

No going back on VAT: Rosaiah

By Our Staff Reporter

NELLORE, MARCH 26. The Finance Minister, K. Rosaiah, has made it clear that it will not be possible to scrap the Value Added Tax (VAT).

Addressing a meeting arranged by the Chamber of Commerce at Kavali, 58 km from here on Saturday, Mr. Rosaiah claimed that the system was thought of during the Congress regime and it had undergone several modifications and finally promulgated on January 29, through an ordinance. The Minister promised that there would not be any difficulty for the commerce and business circles.

Healthy competition

Mr. Rosaiah, was of the view that implementation of VAT would finally lead to a healthy competition and would increase the revenue of business circles. Referring to the irrigation sector, the Minister reiterated the commitment of Government to accord priority to irrigation projects and reminded that the Nagarjunasagar project was constructed during the Congress tenure and was now irrigating 23 lakh acres. Mr. Rosaiah promised to develop the Krishnapatnam port in Nellore to facilitate export of barytes. The Government, he said, had increased investments in the industrial sector. The Kavali MLA, M. Parvatamma, and the secretary, Andhra Pradesh Chamber of Commerce, T. Ramakrishna, spoke.

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