Gogoi presents deficit budget in Assam Assembly
Assam Chief Minister Tarun Gogoi on Monday presented a deficit budget of Rs 1,995.48 crore with tax reduction on various items and no fresh tax proposals.
By PTI |
GUWAHATI: Assam Chief Minister Tarun Gogoi on Monday presented a deficit budget of Rs 1,995.48 crore with tax reduction on various items and no fresh tax proposals.
Presenting the budget estimates for the year 2006-07 in the State Assembly here, Gogoi who also holds the Finance portfolio said the aggregate expenditure for the year was estimated at Rs 38,379.29 crore, while the estimated transactions resulted in a deficit of Rs 1,834.46 crore.
The 'opening deficit' of the year 2006-07 was Rs 161.02 crore while the overall deficit, at the end of the year, is estimated to be Rs 1,995.48 crore, he said.
The target for tax collection stood at Rs 3335 crore in the 2006-07 budget, the Chief Minister said and announced the reduction of tax on medicines from six per cent on MRP (maximum retail price) to four per cent.
Concerned at the rise in the number of malaria cases in the state, Gogoi proposed to exempt malaria drugs and mosquito nets from taxes and specific goods exclusively related to health from entry tax.
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Announcing a special tax incentive scheme for industries, the Chief Minister reduced entry tax on plants and machinery of small scale industrial units from current one per cent to 0.25 per cent.Download
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