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KAAC chief presents deficit budget

By Correspondent
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DIPHU, March 8 - The Chief Executive Member (CEM) of Karbi Anglong Autonomous Council (KAAC) Tuliram Ronghang presented Rs 38.97-crore deficit budget for the year 2020-21 for the council. The budget also proposed an estimated expenditure of Rs 225 crore for the fiscal to carry out developmental activities.

During his budget speech, he touched upon various schemes for the welfare of the Karbi people by way of utilising its own resources. �The Council�s main sources of revenue are derived mostly from forest products, entry tax, professional tax, trade callings, land revenue, share of motor vehicle tax, sale proceeds from weekly markets, ghats, fisheries and cattle pounds,� Ronghang said in his budget speech. In order to increase the revenue kitty, the CEM also proposed new fee hike on trading license, transfer of land and other trades. He also informed the house that the KAAC is likely to receive an amount of Rs 50 crore of administrative charges and share of motor vehicle tax from the state government. �Similarly, the KAAC would receive excise and export revenues from 2021,� he said, adding that the MAC development fund has been increased to Rs 30 lakh from Rs 15 lakh. Further, he also informed that the state government has assured that the excise and export revenues will be handed over to the KAAC fully and the amount may touch Rs 100 crore from April next year.

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KAAC chief presents deficit budget

DIPHU, March 8 - The Chief Executive Member (CEM) of Karbi Anglong Autonomous Council (KAAC) Tuliram Ronghang presented Rs 38.97-crore deficit budget for the year 2020-21 for the council. The budget also proposed an estimated expenditure of Rs 225 crore for the fiscal to carry out developmental activities.

During his budget speech, he touched upon various schemes for the welfare of the Karbi people by way of utilising its own resources. �The Council�s main sources of revenue are derived mostly from forest products, entry tax, professional tax, trade callings, land revenue, share of motor vehicle tax, sale proceeds from weekly markets, ghats, fisheries and cattle pounds,� Ronghang said in his budget speech. In order to increase the revenue kitty, the CEM also proposed new fee hike on trading license, transfer of land and other trades. He also informed the house that the KAAC is likely to receive an amount of Rs 50 crore of administrative charges and share of motor vehicle tax from the state government. �Similarly, the KAAC would receive excise and export revenues from 2021,� he said, adding that the MAC development fund has been increased to Rs 30 lakh from Rs 15 lakh. Further, he also informed that the state government has assured that the excise and export revenues will be handed over to the KAAC fully and the amount may touch Rs 100 crore from April next year.

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