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Raman's budget eases norms for SMEs

BS Reporter  |  Kolkata/ Raipur 

Chhattisgarh government today announced a number of sops for the trade and industry in the state budget for the financial year 2009-10.

While the small traders having annual turnover of less than Rs 10 lakh have been exempted from professional tax, the Small Scale Industries (SSI) have been given the relaxation to file quarterly instead of monthly Value Added Tax (VAT) returns.

“The sops have been announced by the state government in view of the recession,” Chief Minister Dr Raman Singh said while presenting the state budget today in the Chhattisgarh Legislative Assembly. The Biofuel has been made tax free and VAT on laminates and steel fabricated items have been reduced from 12.5 per cent to 4 per cent. Stamp duty on sale deeds of immovable property has been lowered by 0.5 per cent to 6.5 per cent.

The outlay for the agriculture and allied sector has been increased by 13 per cent.

Short term agricultural credit will be made available to the farmers at the nominal interest of 3 per cent. Besides, production subsidy for certified seeds has been increased from Rs 200 to Rs 300 per quintal; bonus for sugarcane farmers has been increased from Rs 15 to Rs 25 per quintal and a new subsidy scheme to dairy farmers has been introduced. Emphasis has been given on increasing irrigation potential and outlay of Rs 1 154 has been provided for the irrigation sector. The Chief Minister's Food Assistance Programme has been restructured with distribution of rice at Re 1 per kg to 700000 Antodaya families; rice at Rs 2 per kg to 3 million poor families and free iodized salt to the BPL families at a cost of Rs 1458 crore.

The state government has also made budgetary provision for bonus of Rs 270 per quintal over and above the procurement price to the paddy farmers costing Rs 840 crore, short term agricultural credit at nominal rate of interest of 3 per cent involving subvention Rs 46 crore and free electricity for agriculture pumps up to 5HP capacity with subsidy provision of Rs.100 crore.

First Published: Tue, February 10 2009. 00:10 IST