Haryana seeks incentives for projects in NCR

Haryana on Saturday urged the central government to exempt urban development authority from income tax and enhance the capability of the National Capital Region Planning Board (NCRPB) to finance infrastructure projects in the area.

Haryana Finance Minister Abhimanyu said that exemption to the urban development authority from the provision of income tax would enable it to achieve the objective of a "house for all", especially for weaker sections of the society.

He was speaking in pre-budget consultations meeting of union Finance Minister Arun Jaitley with finance ministers of states and union territories here.

Abhimanyu pointed out that the financial assistance by way of loans to Haryana, which accounts for 50 percent of area under the NCR, by the bnoard has declined from Rs.567.34 crore in 2010-11 to Rs.186.97 crore in 2014-15.

"One of the main objectives of the NCRPB is to develop the infrastructure in the region at par with that of the National Capital Territory of Delhi. The enhancement in the capability of the board to finance infrastructure projects in the NCR would enable the states in the NCR to build infrastructure at par with Delhi," he pointed out, adding that higher allocation of funds from central government would help in development of the region.