FINER heaps praise on budget

BY OUR STAFF REPORTER

GUWAHATI, July 26: The Assam State Budget 2016-17 presented on Tuesday by State Fince Minster Himata Biswa Sarma is indeed an epoch making, inclusive, growth oriented, progressive — and for one and all, having sincerity of purpose, and a roadmap ahead in addressing concerns of all sections of society, said the Federation of industries & Commerce of North Eastern Region (FINER) in its statement issued here.

“The FINER is extremely happy that most of our suggestions have been accepted and incorporated in the budget.  Ratiolization of value added tax, entry tax and luxury tax to protect local industry, commerce and service sector are steps in right direction. The Health sector would welcome reduction in entry tax on hospital equipments and ratiolization of luxury tax on hospital rooms. Announcement of amnesty scheme for liquidation of arrears will go a long way in settling tax dues and disputes on the one hand and provide a window to dealers to come clean,” it said, adding, “Raising the threshold limit of agriculture income tax, service tax reduction in cinema halls augurs well. Reduction of VAT on E-rickhaw, citronella oil,  packaged drinking water, bitumen emulsion, gur, jiggery, edibles and essential goods, etc, will make the local industries more competitive and give comfort to consumers.”

The budget announcement by the government for single window clearance, adoption of the e-governce in a big way and to adopt new software systems in order to facilitate ease of doing business are welcome steps which will ensure ease of business in the true spirit arresting leakages and curbing corruption effectively, leading to attract much needed investment in the State. Announcement for Land Bank to provide land to industry would be welcomed by investors, it stated.

The FINER further said, “We are very grateful that the Fince minister accepted our suggestions for organizing ‘Investment Conclave’ ming it ‘VIVACIOUS ASSAM’, creation of ‘AWESOME ASSAM’ for comprehensively marketing the State, and setting up of a ‘World Class Global Business Centre’ at Guwahati and ecting a Public Accountability Bill.”  

The FINER has also welcomed reduction of stamp duty in case of female buyers, while stating that the raising of duty for registration of property in the me of male/other judicial person needs reconsideration. “The Chief Minister’s Samagra Gramya Unyan Yoja is indeed unique and laudable one, which if implemented in right earnest, will change the scerio of rural Assam, resulting in balanced and sustaible development of the State,” added the statement.

It said that the economic parameters are well within prudential limits like fiscal deficit at 2.9% of the State GDP.