Haryana mulls to impose property tax

Haryana is mulling to impose property tax in the state. The state is already mopping Rs 150 crore per annum of revenue from the cess on urban development and plans to raise the income from urbanisation in the due course.

Talking to Business Standard, state Finance Minister Ajay Singh Yadav said the timeframe for this new tax has not been decided as the proposal needs to be ratified at the level of different government hierarcies.

Apprising on his pre-Budget discussion with the Union finance minister in New Delhi on Wednesday, he said Haryana, along with other states, had proposed to revise CST (central sales tax) from two per cent to four per cent due to delay in imposition of GST (goods and services tax). He added the minimum rate of tax on declared goods should also be raised from four per cent to five per cent.

The rate of interest charged by the National Bank for Agriculture and Rural Development on agriculture lending, according to him, should be slashed to four per cent from the current seven per cent. He added, the state government provides a three per cent subsidy to the good paymasters on agriculture lending and this should be offered by the central government to push the agriculture growth rate.

A package of Rs 100 crore for upgradation of Haryana Agriculture University, Hissar and Veterinary University, Hissar should also be given to Haryana, he added.

The state can seek benefit of JNNURM (Jawaharlal Nehru Urban Renewal Mission) scheme only if the cieling of the population of 1.5 million is slashed to 0.3 million in this budget, he added.

The state also plans to pursue watershed development in the Aravali foothills in south-west Haryana and has demanded funds in the Union Budget this year, he added.