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Maharashtra Finance Minister presents marginally surplus budget
Imposes levy on
finished garments; hikes taxes on LPG, CNG, petrol, diesel and ATF
Monday March 26, 2012 09:46:18 PM,
IANS
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Mumbai: Maharashtra
Deputy Chief Minister and Finance Minister Ajit Pawar presented a
marginally revenue-suplus state budget for 2012-13, extensively
focusing on infrastructure, social, health and tourism sectors.
However, Pawar's plans to tax the commoners by hiking taxes on
most fuels is expected to fuel inflation and has invited protests
from both the ruling and Opposition benches.
Pawar's move to hike the taxes on prices of cooking gas (LPG)
cylinders, CNG, petrol, diesel and ATF is expected to hit most
sectors of the economy and may contribute to inflationary trends.
While Pawar tabled the budget in the legislative assembly,
Minister of State for Finance Rajendra Mulak presented it in the
legislative council.
While announcing ambitious new schemes in the health, social,
education and other sectors, Pawar's move to burden the people
with a slew of new tax proposals expected to yield Rs.600 crore,
has been greeted with protests and threats of agitations.
The budget proposals discontinued tax exemption since 2008 on LPG
and proposed a 5 percent levy, with Pawar citing examples of other
states.
Similarly, finished garments shall be taxed 5 percent at point of
sales, the tax component hiked from four percent to five percent
on ATF and a levy of 12.5 percent entry tax on natural gas sourced
from outside the state.
The Motor Vehicle Tax has also been increased by two percent on
petrol cars and jeeps and four percent on diesel cars and jeeps -
from the earlier slabs. TDS on works contract executed by
unregistered dealers would be now 5 percent.
"I have attempted to strike a fair balance between development
needs of the state and additional tax burden," Pawar said,
justifying the proposals.
While Chief Minister Prithviraj Chavan said the budget does not
put a heavy tax burden on the common man, Leader of Opposition in
the Legislative Council Vinod Tawade demanded a roll-back on the
levies failing which he threatened a state-wide agitation.
The state's Annual Plan has been fixed at Rs.45,000 crore, while
the Gross State Domestic Product is expected to be 8.5 percent.
The revenue surplus is to the order of Rs.152.49 crore.
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