 "Madhya Pradesh imposes entry tax on online retail trading")
Imposing an entry fee of six per cent on goods in view of revenue loss due to e-commerce, the Madhya Pradesh government on Friday said in its Budget that it would reach its borrowings (fiscal deficit) limit.
While presenting the Budget, state finance minister Jayant Malaiya said his government had sought permission for raising the fiscal-deficit (borrowings) limit from three per cent of Gross State Domestic Product (GSDP) to 3.5 per cent. "The fourteenth finance commission had recommended that states with better fiscal management would be permitted to attain 3.5 per cent limit of fiscal deficit to GSDP," the minister said.
Plastic goods like plastic bags, cups, plates and other cutlery items made of plastic (excluding high density polypropylene bags and sacks) would now attract 14 per cent VAT (value added tax). At present these goods attract five per cent VAT. Soya milk, parts and accessories of induction cooker, dialysis machine, and consumables will now attract five per cent VAT instead of 14 per cent.
The state would extend its Ladli Laxmi Yojna, under which a girl-child is ensured of Rs 1 lakh at the age of 21. "An amount of Rs 903 crore has been earmarked for the purpose," the minister said.
In the power sector, the minister said his government would make Rs 19,976-crore provisions, largely to strengthen power distribution companies (discoms). "An amount of Rs 7,568 crore, which was provided to power discoms as working capital, will be converted into equity," said A P Shrivastava, additional chief secretary, state finance department.
Among other projects, Rs 452 crore will be allocated to metro railway, Rs 1,712 crore to urban infrastructure as contribution to Atal Mission for Rejuvenation and Urban Transformation (Amrut), Rs 2,464 crore for industrial infrastructure, Rs 7,361 crore for roads, Rs 298 crore for Simhastha Kumbh, Rs 275 crore for Chief Minister Urban Infrastructure Development Scheme, Rs 400 crore for Pradhan Mantri Awas Yojana, Rs 525 crore for Mukhyamantri Shahari Swachhata Mission, and Rs 495 for Rashtriya Madhyamik Shiksha Abhiyan.
While presenting the Budget, state finance minister Jayant Malaiya said his government had sought permission for raising the fiscal-deficit (borrowings) limit from three per cent of Gross State Domestic Product (GSDP) to 3.5 per cent. "The fourteenth finance commission had recommended that states with better fiscal management would be permitted to attain 3.5 per cent limit of fiscal deficit to GSDP," the minister said.
Plastic goods like plastic bags, cups, plates and other cutlery items made of plastic (excluding high density polypropylene bags and sacks) would now attract 14 per cent VAT (value added tax). At present these goods attract five per cent VAT. Soya milk, parts and accessories of induction cooker, dialysis machine, and consumables will now attract five per cent VAT instead of 14 per cent.
The state would extend its Ladli Laxmi Yojna, under which a girl-child is ensured of Rs 1 lakh at the age of 21. "An amount of Rs 903 crore has been earmarked for the purpose," the minister said.
In the power sector, the minister said his government would make Rs 19,976-crore provisions, largely to strengthen power distribution companies (discoms). "An amount of Rs 7,568 crore, which was provided to power discoms as working capital, will be converted into equity," said A P Shrivastava, additional chief secretary, state finance department.
Among other projects, Rs 452 crore will be allocated to metro railway, Rs 1,712 crore to urban infrastructure as contribution to Atal Mission for Rejuvenation and Urban Transformation (Amrut), Rs 2,464 crore for industrial infrastructure, Rs 7,361 crore for roads, Rs 298 crore for Simhastha Kumbh, Rs 275 crore for Chief Minister Urban Infrastructure Development Scheme, Rs 400 crore for Pradhan Mantri Awas Yojana, Rs 525 crore for Mukhyamantri Shahari Swachhata Mission, and Rs 495 for Rashtriya Madhyamik Shiksha Abhiyan.