West Bengal Budget plan outlay higher

The minister proposed to allocate an extra amount of Rs 200 crore through additional resource generation through the various tax proposals.

Value-added tax (VAT) rates on balloons have been withdrawn while that on paneer reduced from 13.5 per cent to four per cent.

For wooden boxes not covered in packing materials,VAT rates were reduced from 13.5 per cent to four per cent,and the same proposed for small units manufacturing kite sticks.

Items where VAT rates were increased from 13.5 per cent to 14.5 per cent are: cars costing over Rs 10 lakh,TV sets with MRP in excess of Rs 25,000,mobile phones with MRP higher than Rs 20,000,watches costing more than Rs 15,000 and ACs with capacity of more than one tonne.

The Budget also introduced an ad valorem duty on MRP in the country liquor segment. Cess of tea is withdrawn.

Proposals taken together would garner state tax revenue of Rs 31,222 crore during 2012-13.

Mitra said that through various policy measures announced in the Budget,there would be an additional creation of 10,11,183 jobs. He added that the estimated total deficit in the Budget is Rs 9 crore.

The Budget also proposed to reintroduce entry tax on goods into the state for creating a Compensatory Entry Tax Fund.

The state’s Budgeted tax revenue receipts is 25.2 per cent higher than the revised estimates of 2011-12 at Rs 24,934 crore.

Mitra said that in view of the recent policy decisions taken by the Centre,the state would stand to lose Rs 1,800 crore of revenue in 2012-13.

As per the West Bengal Fiscal Responsibility and Budget Management (FRBM) Act prescription,the state’s revenue deficit as a proportion of GSDP is projected at 1.6 per cent in 2011-12 and 1.1 per cent in 2012-13.

The fiscal deficit as a proportion of GSDP is projected at 3.5 per cent both in 2011-12 and 2012-13.

The Budgetary allocation to the health sector is increased from Rs 871 crore to Rs 1,049 crore,the agriculture sector is allocated Rs 315 crore,for drinking water Rs 800 crore,for minorities welfare it is increased from Rs 330 crore to Rs 570 crore and school education to Rs 2,713 crore.

Allocation to power (including non-conventional sources) and road sectors are raised to Rs 1,010 crore and Rs 1,175.42 crore,respectively,in the Budget.

Outlay towards industry and IT sector are kept at Rs 500 crore and Rs 102.75 crore,respectively.

Budgetary allocation towards the MSME sector is put at Rs 286 crore.

Budget tried to spare common man from extra burden: Mamata

Kolkata: West Bengal Chief Minister Mamta Banerjee today said the TMC government’ maiden budget has attempted to spare the common man from any additional burden,notwithstanding the financial difficulties inherited from the previous Left Front government.

“The revenue earnings is Rs 21,000 crore and the expenditure is Rs 22,000 crore. This is the legacy from the previous Left Front government. We made the budget under this situation. We have tried not to put the burden on the common man,” Banerjee said at a press conference after the Budget was presented in the Assembly.

Asked how much she would give the budget out of a total of 10 marks,she said,”I will give it 100.”

Banerjee,however,declined to elaborate how her government proposed to earn the revenues for the projects and

programmes announced in the budget. “Why will I tell you how we will earn revenue? There are many options and we will have to nurture them,” she said.

Stating that Finance Minister Amit Mitra had ‘forgotten’ to mention a number of programmes in the budget,Banerjee said

the government proposed to introduce a group insurance scheme for the lawyers where it would pay the premium and all

beneficiaries would be insured for a sum of Rs 2 lakh.

Law school graduates enrolling for practice would be given a monthly stipend of Rs 1,000 even one year after enrollment for practice,she said.

A housing board has been set up for personnel of the Kolkata Police and West Bengal Police and all officers and personnel of the police forces would be provided housing within the next four years,she said,adding model schools were also being set up for their children on lines with central schools.