Gandhinagar, Feb 23 (UNI) Gujarat Finance Minister Vajubhai Vala today claimed that despite no 'fresh tax' in the budget for 2007-08, the developmental projects in the state would not hampered.
In post-budget press briefing here, Mr Vala said the Gujarat government has decided to widen the gap between revenue receipts and expenditures by ''cutting the administrative cost and stringent measures for faster and proper tax collections.'' The Modi government will raise the resources by strengthening the tax recovery and the collection system, and also reduce the administrative costs.
''This is a surplus budget of Rs 329.58 crore despite tax relief of over Rs 400-crore given to a common man. The majority chunk of tax relief is in eletricity sector with Rs 223 Crore, which wouldbenefit nearly 80 per cent population of the state,'' he said.
Mr Vala said the state's financial health had been very good for the last several years and in last three years, his ministry had neither taken any overdraft nor used special or ordinary wage offered by the Reserve Bank of India (RBI).
In reply to a question, the Finance Minister defended his decision of not abolishing the Octroi from the seven corporations of state saying it could be removed only when one per cent 'Entry' and 'Turnover' tax introduced by the state government was replaced by it.
UNI
In post-budget press briefing here, Mr Vala said the Gujarat government has decided to widen the gap between revenue receipts and expenditures by ''cutting the administrative cost and stringent measures for faster and proper tax collections.'' The Modi government will raise the resources by strengthening the tax recovery and the collection system, and also reduce the administrative costs.
''This is a surplus budget of Rs 329.58 crore despite tax relief of over Rs 400-crore given to a common man. The majority chunk of tax relief is in eletricity sector with Rs 223 Crore, which wouldbenefit nearly 80 per cent population of the state,'' he said.
Mr Vala said the state's financial health had been very good for the last several years and in last three years, his ministry had neither taken any overdraft nor used special or ordinary wage offered by the Reserve Bank of India (RBI).
In reply to a question, the Finance Minister defended his decision of not abolishing the Octroi from the seven corporations of state saying it could be removed only when one per cent 'Entry' and 'Turnover' tax introduced by the state government was replaced by it.
UNI
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