Deficit Budget for Arunachal, VAT Charges on Tobacco Products

Source from:  www.newkerala.com 03/03/2009

Itanagar, Mar 02 : Arunachal Pradesh Finance Minister Kalikho Pul today presented a Rupees 299.91 crore deficit budget with proposal to levy 12.5 per cent value added tax (VAT) on tobacco products and lowering tax ratio from 12.5 to 4 per cent on various commodities. The budget for the year 2009-2010 focuses on various reforms and the main thrust areas include infrastructure development, education, healthcare, sports and other social sectors. Presenting the budget, Mr Pul stated that it was prepared in consonance with the Medium Term Fiscal Plan of the state in accordance with the recommendation of the Twelfth Finance Commission and as stipulated under the Arunachal Pradesh Fiscal Responsibility and Budget Management Act, 2006. The budget estimates for the next fiscal show a receipt of Rs 3526.96 crores under the consolidated fund of the state government and out of this Rs 3256.96 crore is on Revenue Account and the remaining Rs 269.99 crores is under the Capital Account. As against this, total expenditure from the consolidated fund of the state in 2009-10 is estimated at Rs 4,551.61 crores of which Rs 3607.36 crore is on Revenue Account and Rs 944.25 crores on Capital Account, he said. The annual plan outlay for 2009-10 has not yet been finalized by the Planning Commission (PC) and is based on the envisaged guidelines of the PC by effecting ten per cent increment over the current year's central assistance and estimates of state's own resources tentatively. The annual plan for the next fiscal has been estimated at Rs 1977.42 crore, he said. The annual plan will not include the funds for the completion of incomplete projects under PM's package as full funding has been released by 2008-09. The annual plan 2009-10 will be finalized in the discussion in the PC and Chief Minister Dorjee Khandu, Mr Pul said. The non-plan revised estimates (RE) for the current fiscal has been finalized at Rs 2067.97 crore against budget estimate figure of Rs 1376.88 crores. The non-plan revenue expenditure (RE) 2008-09 has been finalized at Rs 1880.74 crores against budget estimate figure of Rs 1187.04 crore. The net increase in non-plan revenue expenditure is Rs 693.70 crore which includes resource supported estimate of Rs 96.39 crore, he said in his speech. Enditem