` 1.58 lakh crore deficit budget , Relief to farmers, Rs 452 crore for metro in Bhopal, Indore , Govt to take maximum-possible loan.
BHOPAL : The Madhya Pradesh government announced an entry fee of 6 per cent on goods in view of revenue “loss” due to the e-commerce trade in the budget for 2016-17.
The Finance Minister, Jayant Mallaiya, on Friday, presented a Rs-1,58,713 crore budget for the next fiscal year in the Assembly on Friday. The Rs-118.56 crore deficit budget provides for levying of taxes on several commodities to generate revenue. Stamp fee on registration of documents has been raised from 0.125 per cent to 0.50 per cent in rural areas and from 1 per cent to 2 per cent in urban areas. An Entry tax of 6 per cent has been imposed on online shopping, which would affect the youths, who mostly use this mode for making purchases. Value added tax (VAT) on plastic goods has been raised from 5 to 14 per cent.
Farmers have been given relief as VAT on organic insecticides, oil, fodder and soyamilk has been reduced. The budget does not have any special provision for youth and women. A provision of Rs 2462 crore has been made for infrastructural development for establishment of industries. Similarly, there is provision of Rs 52 crore for IT Park and Electronics Manufacturing Unit. For metro rail in Bhopal and Indore, provision of Rs 452 crore has been made. Rs 12,000 crore would be taken as loan from Japan International Corporation Agency for metro. The Central government would give a loan of Rs 3,000 crore for this project in both the cities. A provision of Rs 525 crore has been made for Urban Sanitation Mission and Rs 275 crore for Urban Infrastructure Development. There is also provision in budget for opening of five new colleges. Smart Medical City, worth Rs 1000 crore, would be set up by Technicity, an American Company.
The Finance Minister’s speech revealed that the provision of loan in the budget exceeds the upper limit and Centre’s permission has not been taken in this regard. The Finance Commission had capped loans at 3 per cent of the GDP. The 14th Finance Commission enhanced the upper limit to 3.5 per cent of the GDP for states with good financial management. In the next fiscal year, the government seeks to take a loan of Rs 24,913 crore, which is 3.49 per cent of the GDP.
Rs 2 lakh for inter-caste marriage
The monetary incentive for inter-caste marriage has been raised from Rs 50,000 to Rs 2,00000. The incentive amount has been increased in order to promote marriages between ‘upper castes’ and members of SCs and STs.
Internet training for 3 lakh women
‘E-Shakti’ programme would be launched to teach women in rural areas how to use the Internet. As many as 3 lakh women would be imparted training.
Referring to losses incurred to the state due to e-commerce trade, the government has proposed to levy tax at the rate of six per cent on entry of goods in the state. The tax would affect the youths, who mostly use this mode for making purchases.
Dearer
* All goods purchased online l Polythene bag, cup, glass, plate.
* Plastic bags.
* Bicycles priced at more than Rs 10,000 l Glass mirror l Gas Geyser l Stamp fee.
Cheaper
* Organic insecticides l Dry berries, berry powder l Battery run vehicles l Envelopes .
* Mustard, Corn Fodder l Cars purchased from Canteen by Army men l Commodities purchased by BSF personnel from canteens.
* Heavy Goods vehicles l Soyamilk l Dialysis machine and related consumables l Gas stoves running on bio-fuel, parts and accessories of induction cooker Satellite image mandatory for e-registry.
* Rules related to stamps changed
* Mandatory presence of two witnesses for registry done away with
* E-registry to contain details of loan to check fraudulent sale of mortgaged property
* Copy of electricity bill or property tax receipt to be enough for registration of
non-agricultural property
* Penalty at the rate of 2 per cent per month on evasion of stamp fee
* Satellite imagery mandatory from April 1 for E-Registry in Bhopal, Indore, Jabalpur and Ujjain
Budget in figures
* Revenue Rs 3,509.81 crore
* Expenditure Rs 1,58,713.04 crore
* Fiscal deficit Rs 24,913.64 crore
* Appropriation Rs 1,70,753.99 crores
allocation Enhanced
* Agriculture : Rs 5521.01 cr from Rs 5158.37 cr (2015-16)
* Irrigation/ flood control: Rs 7,494.92 cr from Rs 6,255.83 cr.
* Industry& Mining : Rs 2780.52 cr from Rs 1940.93 cr
* Transport: Rs 4658.18 cr from Rs 3929.44 cr
* General Economic Services: Rs 926.76 cr from Rs 661.01 cr
* Social Service : Rs 30,346.91 cr from Rs 26,206.14 crore
