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Mukul Sangma presents Rs 382-cr deficit budget

By Raju Das
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SHILLONG, March 19 � Chief Minster Mukul Sangma today presented a deficit budget of Rs 382 crore for 2012-13 and proposed tax increase on alcohol and tobacco products to raise awareness about the ill-effects of such products.

�For infusing better consciousness about ill-affects of tobacco and tobacco products on the health of the people and to streamline the tax structure the VAT on such products has been proposed to be increased from 12.5 per cent to 13.5 per cent,� Sangma said. There is also a proposal to bring bidi under the tax net through amendments.

However, the estimated plan size for the health sector stood at Rs 398 crore.

Additionally, the excise duty on ad volarem mode and VAT on liquor has been proposed with increase in excise rate of licence fees.

Moreover, the State would take up with the Centre the issue of raising the ceiling of professional tax through appropriate amendment of the Constitution. �These measures are expected to generate an additional revenue to the tune of Rs 12 crore,� he stated.

Meanwhile, the fiscal deficit is a reduction of Rs 37 crore from the last fiscal and is around 2.06 per cent of the Gross State Domestic Product (GSDP).

Sangma, who also holds the Finance portfolio, said the plan and non-plan budget allocation has been proposed at Rs 7601 crore. The plan allocation has been estimated at Rs 3535 crore. Out of the non-plan allocation, Rs 1840 crore is earmarked for the salary component, Rs 336 crore for interest payment and Rs 226 crore for payment of pension.

From the annual plan, the government has proposed to spend Rs 747 crore for education, Rs 744 crore for PWD, Rs 723 crore for agriculture and allied sectors, Rs 301 crore for PHE, Rs 290 crore for power, Rs 282 crore for CnRD and Rs 228 crore for health.

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Mukul Sangma presents Rs 382-cr deficit budget

SHILLONG, March 19 � Chief Minster Mukul Sangma today presented a deficit budget of Rs 382 crore for 2012-13 and proposed tax increase on alcohol and tobacco products to raise awareness about the ill-effects of such products.

�For infusing better consciousness about ill-affects of tobacco and tobacco products on the health of the people and to streamline the tax structure the VAT on such products has been proposed to be increased from 12.5 per cent to 13.5 per cent,� Sangma said. There is also a proposal to bring bidi under the tax net through amendments.

However, the estimated plan size for the health sector stood at Rs 398 crore.

Additionally, the excise duty on ad volarem mode and VAT on liquor has been proposed with increase in excise rate of licence fees.

Moreover, the State would take up with the Centre the issue of raising the ceiling of professional tax through appropriate amendment of the Constitution. �These measures are expected to generate an additional revenue to the tune of Rs 12 crore,� he stated.

Meanwhile, the fiscal deficit is a reduction of Rs 37 crore from the last fiscal and is around 2.06 per cent of the Gross State Domestic Product (GSDP).

Sangma, who also holds the Finance portfolio, said the plan and non-plan budget allocation has been proposed at Rs 7601 crore. The plan allocation has been estimated at Rs 3535 crore. Out of the non-plan allocation, Rs 1840 crore is earmarked for the salary component, Rs 336 crore for interest payment and Rs 226 crore for payment of pension.

From the annual plan, the government has proposed to spend Rs 747 crore for education, Rs 744 crore for PWD, Rs 723 crore for agriculture and allied sectors, Rs 301 crore for PHE, Rs 290 crore for power, Rs 282 crore for CnRD and Rs 228 crore for health.

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