No new tax proposals in Rajasthan

first_imgRajasthan Chief Minister Vasundhara Raje presented a ₹1,66,000-crore budget in the State Assembly on Wednesday, while announcing a slew of measures and financial allocations for infrastructure development, transport, agriculture, higher education and water resources.Except a 15% increase in the value added tax on tobacco products, no new tax proposal was made in the Budget. Ms. Raje, who also holds the Finance portfolio, said the State had achieved a myriad of awards and recognitions and bagged many laurels during the last three years.The State government was giving the highest priority to the issues of farmers and protecting the interests of entrepreneurs and small-scale businessmen while creating jobs for the unemployed youths, said Ms. Raje in her speech.The budget projected an estimated fiscal deficit for 2017-18 at ₹24,753 crore, which is 2.99% of the GSDP and the estimated total revenue receipt for the financial year at ₹1,30,162 crore. The estimated own tax revenue for 2017-18 was 8.34% of GSDP.She said ₹.36 crore would be allocated for basic infrastructure, conservation, beautification and renovation works at various tourist places, while the interest subsidy under the crop loan scheme would be ₹370 crore and compensatory interest subsidy to cooperative banks would be ₹.150 crore.Among the salient features of the budget, subsidy for sprinkler equipment will be increased by 5% and mini-kits will be distributed to one lakh farmers based on the reports of soil health cards. The Home Department will get ₹.5,600 crore in the new financial year, while the road and air transport will be strengthened as part of measures to improve infrastructure.Higher educationShe allotted ₹1,399 crore were for higher education, with Karauli and Bharatpur getting new engineering colleges, while admissions to the government schools will be increased by 32% and smart labs will be set up in schools. Among the tax proposals, a composition scheme for micro and small enterprises having turnover up to ₹50 lakh was introduced with the rate of composition fee at 2%. New reliefs were also provided in the stamp duty and registration fees.last_img

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