VAT effect looms over textiles, sugar in MP State Budget
22 Feb '06
1 min read
Finance Minister Raghavji will be presenting Madhya Pradesh state's budget today that will focus on medium-term fiscal policy strategies and initiatives as well as hinge on macro economic framework.
Introduction of Value-Added Tax (VAT), overhaul of sales tax structure besides a series of measures to mobilize resources to generate revenue for developmental activities will all be part and parcel of this budget, it is hoped.
Prices of textile materials, sugar and tobacco products are likely to go up with the introduction of VAT.
Additional resources for the State Government would be generated by these three items
The budget would lay special emphasis on providing additional resources for development of health, energy, road, water resources and educational sectors.
A corpus of about Rs 100 crore, with various markets of the State is planned to be used for Antyodaya scheme.
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