Tarun Gogoi presents Rs 1,610 crore surplus Budget for 2015-16

GUWAHATI: The Assam budget 2015-16 estimates a surplus of over Rs 1,610 crore. "Estimated transactions during the year will result in an estimated surplus of Rs 1,609.78 crore," state Chief Minister Tarun Gogoi said while presenting the last full budget in his third tenure.

However, considering the opening deficit of Rs 1,875.10 crore from this fiscal, the FY 2016 is expected to end with an estimated closing deficit of Rs 265.32 crore, Gogoi, who also holds the finance portfolio, added.

"The budget estimates for 2015-16 show a receipt of Rs 64,839.69 crore, out of which Rs 57,064.10 crore is on revenue account and the remaining Rs 7,775.59 crore is under capital account."

After adding the receipts of Rs 1,85,352.56 crore under public account and of Rs 100 crore under contingency fund, the aggregate receipts stand at Rs 2,50,292.25 crore.

"As against this, total expenditure from consolidated fund of the state in 2015-16 is estimated at Rs 66,142.17 crore, of which Rs 51,562.85 crore is on revenue account and Rs 14,579.32 crore is on capital account," Gogoi said.

Taking into account the expenditure of Rs 1,82,440.30 crore under public account and Rs 100 crore under contingency fund, the aggregate expenditure for 2015-16 has been estimated at Rs 2,48,682.47 crore.

About various measures proposed in the budget, Gogoi said it is estimated that the collections from excise revenue would increase to Rs 1,250 crore from the current level of Rs 650 crore.

He proposed to raise the existing slab for exemption of luxury tax on hotel room tariff from Rs 1,000 up to Rs 2,000.

"However, the next slab would be from Rs 2,000 up to Rs 5,000 with rate of luxury tax of 10 per cent and for the room tariff of more than Rs 5,000, the luxury tax would be at the rate of 14 per cent," he added.

Gogoi also proposed doubling the tax on pre-owned cars with engine capacity of 1,000 cc and above to Rs 10,000.

The One Time Tax (OTT) on all new cars priced up to Rs 12 lakh will be raised by 1 per cent. The hike is 1.5 per cent for vehicles costing between Rs 12 lakh and Rs 15 lakh.

The increase is 2 per cent for those cars costing Rs 15 lakh -Rs 20 lakh, 4 per cent for those costing Rs 20 lakh to Rs 30 lakh and 6 per cent for those which cost above Rs 30 lakh.

Gogoi said that the government will garner Rs 600 crore through higher duties on liquor and alcohol by increasing licence fees and introduction of application fees to discourage pub culture in the state.