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No fresh taxes in Budget

State finance improves due to better tax collection, revenue from power projects

Shimla: Himachal Pradesh Chief Minister Virbhadra Singh proposed no new taxes in the 2006-07 Budget presented in the Assembly on Friday, while several new schemes, programmes and concessions were announced.

Presenting the Rs 8,687.04-crore Budget, the Chief Minister, who also holds the Finance portfolio, said no fresh taxes had been proposed as the State's financial position had improved due to better tax collection and high revenue generations from hydro-power projects. The focus was on preservation, maintenance and consolidation of the achievements, he added.

Mr Singh said the Budget with a human face showed his government's concern for poor and downtrodden and was ``path breaking'' as far as social security umbrella and social development was concerned.

The Budget opened with a surplus of Rs 13.70 crores against a deficit of Rs 138.80 crores projected in the original Budget estimates for 2005-06 and the deficit of Rs 13.70 crores for the current year was off set by the opening surplus balance.

The revenue and capital expenditures were pegged at Rs 6,775.32 crores and Rs 1,911.72 crores respectively against revenue and capital receipts of Rs 6521.22 crores and Rs 2152.12 crores with salaries (Rs 2714.15 crore), interest payment (Rs 1754.56 crores), loan and advance (Rs 1154.77 crores) pensions (Rs 698.25 crores), maintenance (Rs 288.01 crores), wages (Rs 103.19 crores) and subsidy accounting for about 80 per cent of the total Budget expenditure. -- UNI

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No fresh taxes in Budget

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