Highlights Rs 2 crore proposed for journalist welfare fund
2 EDC for women, Rs 5 Cr for city bus service for women
10 per cent area reservation in all industrial estates of the state
Fee waiver for all girls studying in government run schools up to 12th standard
No allocation for 7th Pay Commission Products to cost more Shawls, stoles and towels to be put under 5 percent tax category. Tax levied on items like lassi, milk, separated milk, flavoured milk, rusks of all kinds, multifunctional devices, printers, room freshners, air freshners, naphthalene balls, cell phones, mobile phones, tablets, I-Pads and their accessories, imitation jewellery, readymade garments & hosiery goods and all types of packed, frozen food, juices, ready to serve foods is proposed to be increased to 14.5 percent from the present 13.5 percent #All online purchases would be subjected to an entry tax, as against an earlier threshold limit of Rs 5,000. # Entertainment duty of Rs 50 per connection will be levied a month on satellite and cable TV operators.
# The aviation turbine fuel Levy will go up from 20 to 25 per cent, while the toll levied on vehicles will also go up. Zero tax category All types of cotton and silk yarn, local handmade and handloom carpets, LED lights, lamps and tubes under the zero rated tax category. VAT Exemption Lodging services provided by hotels and guest houses, as also for carpets and agriculture produce exempted from VAT . Tax exemption on plant growth promoters and regulators, rodenticides and herbicides. VAT on medical imaging equipments, x-ray machines, scanners, x-ray films reduced from 13.5 percent to 5 percent. VAT on parts of bicycles, tricycles and tyres and tubes of cycle rickshaws to be reduced from 13.5 percent to 5 percent.
Jehangir Rashid
SRINAGAR, May 30: Despite being in the power for more than one year now the Peoples Democratic Party (PDP) and Bharatiya Janta Party (BJP) government in the state is yet to come up with a plan for regularizing the services of more than 60,000 daily wagers and other allied workers. This became clear during the presentation of budget for 2016-17 by Minister for Finance, Dr. Haseeb Drabu and his deputy Ajay Nanda in both the houses of the state legislature. While Drabu presented the budget in the assembly, Nanda presented the financial statement for the present financial year in the legislative council. "The government has an intention to find a solution for engagement of an estimated 61,000 people engaged in various ways, different forms and at different times with empathy and understanding under the guidance and support of Chief Minister. We intend to take up reformative treatment of wages of the daily rated workers (DRWs), casual, seasonal, need based and other categories of workers," said Drabu while presenting the budget. The Finance Minister while spelling out gender budgeting initiatives said that there would be waiver of fees of all the girl students in all the state government run educational institutions up to the higher secondary school. He said that four more women police stations would be set up in the state at Pulwama, Kupwara, Kathua and Udhampur. "I propose to provide Rs. 5 crores for a dedicated bus service for women in Srinagar and Jammu cities. Two Entrepreneurship Development Institutes would be set up in Srinagar and Jammu to help, guide and training aspiring women entrepreneurs. Exclusive women toilets would be set up in the state, district and sub-district hospitals," said Drabu. The Finance Minister said that 10 percent of land in the industrial estates shall be reserved for women entrepreneurs subject to the condition that if it is transferred it shall to be an enterprise which is incorporated in the name of a woman and has women as the majority shareholders as directors. "I propose to earmark Rs. 50 crores to create a Land Bank across the state for acquisition and development of the new industrial estates. There is a provision of Rs. 26 crores for clearing liability as 10 percent interest subvention for artisans with a borrowing ceiling of Rs. 1 lakh recoverable in five years. There is a proposal to provide the required funds for 6,000 looms to help the carpet industry improve its weaving efficiency. I propose to do a one-time settlement with J&K Bank and the SBI for the total outstanding balance of Rs. 49.78 crores, a major financial and emotional relief to all the houseboat owners and taxi drivers who have become defaulters with banks," said Drabu. The finance minister said that there is a proposal of earmarking Rs. 2 crores for pashmina testing, certification and labeling laboratory which can certify handmade products on a larger scale. He said that Rs. 50 lakhs would be earmarked for a sustained promotional campaign to create mass awareness about certification and labeling of handmade Kashmir crafts. "Standard food testing laboratory or a drug testing laboratory would be set up with one each coming up at Srinagar and Jammu. Am amount of Rs. 12 crores would be earmarked for setting up mobile testing facility for interior parts of state. Rs. 2 crores are proposed to be allocated to ensure adequate number of washrooms in police lines and police stations. There is a proposal to set up a Journalist Welfare Fund with initial corpus money of Rs. 2 crores for the welfare of working and accredited journalists of the state. An amount of Rs. 5 crores are proposed to be earmarked to set up as heritage conservation fund for heritage buildings in the state. The state government is committed towards implementation of Free Drug Policy in the health centres of the state," said Drabu. The Finance Minister said that there is a proposal to put all types of cotton and silk yarn, local handmade and handloom carpets, LED lights, lamps and tubes under the zero rated tax category. He said that tax exemption would be given on plant growth promoters and regulators, rodenticides and herbicides. He said it is proposed that VAT ob medical imaging equipments, x-ray machines, scanners, x-ray films and plates is reduced from 13.5 percent to 5 percent. "VAT on parts of bicycles, tricycles & tyres and tubes of cycle rickshaws to be reduced from 13.5 percent to 5 percent. Shawls, stoles and towels to be put under 5 percent tax category. Tax levied on items like lassi, milk, separated milk, flavoured milk, rusks of all kinds, multifunctional devices, printers, room freshners, air freshners, naphthalene balls, cell phones, mobile phones, tablets, I-Pads and their accessories, imitation jewellery, readymade garments & hosiery goods and all types of packed, frozen food, juices, ready to serve foods is proposed to be increased to 14.5 percent from the present 13.5 percent," said Drabu. The Finance Minister made it clear that recommendations of the 7th pay commission cannot be implemented in the state as it would increase the burden on the state exchequer. The finance minister said that it is proposed to provide Rs. 1 lakh each to 193 police stations of the state as 'Cost of Investigation'. He announced the release of pending DA instalment of 6 percent in favour of government employees from January 1, 2016. He said Rs. 1197 crores have been received for providing assistance to completely, severely and partially damaged houses and out of the same Rs. 957 crores have been paid. Drabu said that Rs. 101.89 crores has been distributed till date among the 40,000 non-insured small traders as compensation for the damages suffered due to September 2014 flood. He said that cash assistance provided to Jammu province migrants has been brought at par with Kashmiri migrants with effect from November 18, 2015. "The total receipts for 2016-17 are 61, 681 crores while as the revenue receipts are 51, 460 crores. Our own tax revenue is estimated at Rs. 9220 crores while as the share of central taxes is likely to go up to Rs. 9500 crores as against Rs. 8088 crores in revised estimates of 2015-16. There is an earmarked provision of Rs. 700 crores for DA to employees and pensioners," said the Finance Minister. |