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Rangasamy explains reason for tax-free budget

Special Correspondent

"People should not be further burdened"

Pondicherry: Chief Minister N. Rangasamy, who presented a Rs 2,686 crore tax-free budget for 2006-2007 in the Assembly on Monday, said that he was keen that the people of the Union Territory should not be further burdened by levying additional taxes.

Hence he said he was placing a "tax free budget before the august House".

The gross budget estimate is Rs.2,686 crore.

Of this, a sum of Rs.1,410 crore comes under plan, Rs.1,261 crore under non-plan and Rs.15 crore under schemes sponsored by the Centre.

The Chief Minister said that the funding pattern would be Rs 683.30 crore as grant in aid (from the Centre), Rs.812.10 crore as loan and Rs.1,190.60 crore would be from the Union Territory's own resources. The plan outlay included Rs.220 crore for tsunami reconstruction work.

Sales tax exemption

He also said that the Government had proposed to exempt the vegetable as well as edible oils from the sales tax and the total exemption was proposed to be given in response to the plea made by the trading community in the State.

The Government had been levying four per cent sales tax on these commodities.

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