CHANDIGARH India: Additional resource mobilization of Rs. 40 crores has been proposed in Punjab’s 4,177 crore budget of 198788, presented by Finance Minister Balwant Singh in State Vidhan Sabha. The budget shows 185 crore deficit. The budget is claimed to be balanced because the deficit is within manageable limits.
The Finance Minister told that a solution will be found after. Consultation with the Centre. He told that additional taxes include a 1% levy on dealers on the purchase of agricultural products in the market which will yield an income of Rs. 40 crores. Rationalization of the procedure for the realization of passenger tax will yield additional 10 crores according to the new system of charging lump sum amount based on scheduled kilometer age and keeping capacity at 80% occupancy. Rationalization of taxes rendered particularly by the excise and taxation, food and supply, revenue rehabilitation and transport will yield Rs. 5 crores. Another 5 crores will be mobilized by a levy on the purchase of luxury items.
The Finance Minister also announced concessions to farmers and working sections of the society including a remission of 80% an Abyana in the areas within 5 km. of international border on account of the hardships resulting from the imposition of night curfews.
Article extracted from this publication >> March 27, 1987
