Ajit Pawar presents marginally surplus Maharashtra budget
March 26th, 2012 - 10:54 pm ICT by IANSMumbai, March 26 (IANS) 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.
- New tax on domestic LPG in Maharashtra rolled back - Mar 30, 2012
- Oil firms increase jet fuel price by 3.70 percent - Nov 30, 2011
- Ministerial meet to discuss LPG supply, price deferred - Sep 16, 2011
- BJP protests fuel price hike in Delhi, demands rollback (Lead) - Jun 25, 2011
- India Inc calls for dual pricing of diesel, LPG - May 24, 2012
- No plan to hike diesel, LPG, kerosene prices: Reddy - May 28, 2012
- Protests across Andhra over diesel price hike - Sep 14, 2012
- BJP protests fuel price hike, demands rollback - Jun 25, 2011
- Oil firms increase jet fuel price by two percent - Nov 15, 2011
- 'Fuel price hike cripples transporters, economy of country' - Jun 25, 2011
- Fuel price hike inevitable: Delhi CM - Jun 25, 2011
- Goa, where petrol price goes south! - Mar 29, 2012
- Petrol prices to be hiked by 70 paise from midnight (Second Lead) - Jul 23, 2012
- Government rules out rolling back fuel price hike - Jul 27, 2010
- Petrol to be cheaper, CNG costlier in Delhi (Lead, superseding earlier story) - May 28, 2012
Tags: ajit pawar, budget proposals, chavan, commoners, deputy chief minister, diesel cars, finance minister, inflationary trends, leader of opposition, legislative council, new tax proposals, opposition benches, petrol cars, prithviraj, rajendra, sectors of the economy, social education, social health, state budget, tourism sectors