No fresh tax proposals in TN budget
Laced with a slew of tax concessions and proposals to increase the pace of industrialisation in the state, Tamil Nadu Finance Minister K Anbazhagan today presented a populist budget, which did not contain any fresh taxation proposals.
By PTI |
CHENNAI : Laced with a slew of tax concessions and proposals to increase the pace of industrialisation in the state, Tamil Nadu Finance Minister K Anbazhagan today presented a populist budget, which did not contain any fresh taxation proposals.
He also left uncovered a revenue deficit of Rs 2.19 crore, on the plea that it would be covered by better tax collections.
In a bid to woo women, Anbazhagan waived the sales tax on magalsutras used by Hindus, Muslims and Christians.
He also announced setting up of farmers Self-Help Groups, in which members of primary agricultural co-operatives would be the members. He also reduced the interest rate on farm loan from five to four per cent.
The minister announced a slash in the sales tax on several farmers' produce like jatropha, jaggery and coconut products.
He also announced waiver of special fee collected from students by government and government aided schools.
The Finance Minister proposed setting up four Special Economic Zones at Gangaikondan, Cheyyar, Perunthurai and Ranipet, each dedicated to transport engineering goods, automobile and auto spare parts, engineering goods and leather respectively.
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