Other States - Puducherry   

Interim budget presented

PUDUCHERRY: Chief Minister V. Vaithilingam on Wednesday presented an interim budget, seeking vote-on-account for Rs. 2,241 crore to meet the financial requirements for the first six months of the financial year 2011-12.

Presenting the budget in the Territorial Assembly shortly after the customary address of the Lieutenant Governor, Mr. Vaithilingam said his government had put the Union Territory on the growth trajectory. The government was able to finance Plan schemes though internal resource mobilisation without putting any additional tax burden on the people. The additional resource mobilisation was achieved due to “correct” policies and “efficient” tax collection, he said.

Despite the global economic meltdown, the revenue collection had increased from Rs. 365 crore in 2006-07 to Rs 645 crore in 2010-11, the Chief Minister said.

Explaining the steps taken to streamline the functioning of Commercial Taxes Department, he said that under a Centrally-sponsored scheme, the government introduced e-governance that enabled online renewal of registration, filing of return and issue of various declaration forms. This had led to timely recovery of the dues, he said.

“My government firmly believes that this facility will help in mobilising more resources and I promise the industry and trade sector that the exemption under the Central Sales Tax Act, 1956 would be extended to the unexpired period subject to a maximum period of one year beyond April, 1, 2011 or till the introduction of GST, whichever is earlier,” Mr. Vaithilingam said.

Similarly, revenue from excise had gone up to Rs. 370 crore in 2010-11 from Rs. 143 crore during 2006-07. The introduction of polyester-based holograms on bottles had led to the elimination of spurious and non duty paid liquor and imposition of additional Excise Duty helped in generating more revenue from the sector, the Chief Minister said.

Printer friendly page  
Send this article to Friends by E-Mail

Stories in this Section

Monthly welfare pension will be increased, says Vaithilingam
Economy leaning towards service sector: Iqbal Singh
One more India Reserve Battalion for Puducherry
AIADMK, CPI, MDMK members stage protest
Interim budget presented

Copyright © 2011, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu