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Bhopal

Updated on: Tuesday, November 16, 2021, 10:27 PM IST

Madhya Pradesh: ATF VAT reduced from 25% to 4% in Bhopal, Indore

Rates rationalised on lines of Gwalior, Khajuraho and Jabalpur to boost air connectivity in state
Representative pic  |

Representative pic |

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BHOPAL: In order to promote air connectivity for economic development in the state, the state Cabinet on Tuesday decided to reduce rate of value added tax (VAT) on Aircraft Turbine Fuel (ATF) in Bhopal and Indore.

With the decision, rate of VAT has been rationalised in Bhopal and Indore too on the lines of 4% fixed in Gwalior, Khajuraho and Jabalpur.

"It has been decided to reduce the current rate of VAT on ATF from 25% to 4%. With this decision, tourism and economic activities and hospitality sector would also get a boost due to the availability of air services from one city to another in the state", stated an official release from the state government.

"Also, due to increase in air services, on the one hand, aeronautical institutions in the state will be attracted to operate air services from various cities and on another air services will be available to common people at concessional rates."

Under the chairmanship of Chief Minister Shivraj Singh Chouhan, the Cabinet gave its approval to start Mukhyamantri Udyam Kranti Yojana to connect educated youths of the state with self-employment. The benefit of the scheme will be available to minimum 12th class pass youths of the state between 18 and 40 years of age.

Under the scheme, projects ranging from Rs 1 lakh to Rs 50 lakh for manufacturing units and Rs 1 lakh to 25 lakh for service units or retail businesses will be approved. Interest subsidy at the rate of 3% per annum and loan guarantee fee would be given to the beneficiary at the prevailing rate for a maximum of 7 years on the loan disbursed by the state government as financial assistance. The implementation of the scheme will be done through the online portal. Through this scheme, youths who want to set up industry, service or business will get loans at low interest rates through banks. Also, no collateral security will have to be given for bank loans.

The Cabinet also took the decision to give approval to exemption to Indian National Trust for Art and Cultural Heritage (INTACH) from prescribed procedure of tender method of the state government on turnkey basis for construction work of memorial and museum of Raja Shankar Shah and Kunwar Raghunath Shah, Jabalpur on the prevailing schedule of rates of the state government and the supervision fee of 9% on it on the basis of the work order and future expansion in the said work etc. and the work of museum operation to be done by INTACH itself after the approval of the Standing Finance Committee and on the basis of availability of resources.

The Cabinet has approved plantation policy using CSR/CER and non-government funds through joint/community forest management committees. Industrial groups, corporate bodies, individuals or voluntary organisations, willing to play a role in the restoration of forest areas according to the plantation policy using the CSR/CER and non-government funds through joint/community forest management committees can submit their proposal to the Forest Development Agency established at forest division or state level.

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Published on: Tuesday, November 16, 2021, 10:27 PM IST
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