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Journalism of Courage
The second budget of Finance Minister Parminder Singh Dhindsa failed to bring any cheer or hope for industry in Punjab as the financial paper has not considered the reccomendations of the industry bodies and has also not made in amendments in the VAT Act,as was being expected.
Though the budget has showered bonanza on the children,senior citizens and the poor by waiving of the 5.5 per cent VAT on several items of daily and household use,the industrialists say that a reduction in VAT on fuel could have benefited the masses on a larger basis.
Mohinder Aggarwal,secretary Punjab Pradesh Beopar Mandal said,The items on which VAT has been reduced will not have much impact in the market as already there was a lot of pilferage of taxes in this segment.
We had suggested to reduce VAT on fuel from 32 per cent to 22 per cent and charge for power supplied to farmers who have 7 acres or more land. These two measures could have given a boost the economy of Punjab. However,these have not been considered, Aggarwal said,adding,There seems to be nothing for Punjab industry (in the budget).
Similarly,Badish Jindal,president of federation of association of small industries,said,The allocation for education and health have been increased,which is a good sign,but industry has been left high and dry. The items on which VAT has been exempted will not have much impact on general inflation in the market.
The exhibition centre and trade centre was a major demand of Ludhiana industrialists,but the announcement was made for Amritsar and Mohali,which seems to be political decision,he added. At a time when the marketa are facing recession,the projected collection of revenue through VAT has been increased from this years Rs 14,900 crore to Rs 20,000 crore in the coming fiscal. It will put pressure on the industry, he added.
Upkar Singh,general secretary of chamber of industrial and commercial undertakings(CICU),said,Government must consider waiving of VAT on bicycle for children as well. As budget did not give any incentive to industry in form of waiver of VAT on auto parts and our other demands,now we are left waiting to see something positive in the Punjab industrial policy.
PAU welcomes budget
Punjab Agricultural University Vice-Chancellor,Dr Baldev Singh Dhillon,welcomed the Budget and thanked the state government for raising the annual grant-in-aid of the university from
Rs 270 crore in 2012-13 to Rs 300 crore in 2013-14. He also welcomed the decision to clear pay commission arrears for employees of PAU in the first quarter of 2013-14.
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