Budget Proposals in Telangana Engrossed by Centre

tgFor the first time, the state government will have a say in the preparation of the Union Budget.

The TS govt seeking its views and suggestions on Budget proposals for 2015-16 with taxation beyond seeking details of the needs of state penned by centre.

Union revenue secretary Shaktikanta Das asked the govt to submit a report on the issues and concerns that need to be addressed in the Budget and wrote a letter to TS govt.

On Friday, finance minister Etela Rajender convened a meeting with industrialists at the Secretariat to seek their views on direct and indirect taxes, which could be referred to the Centre.

About 15 industries like FICCI, CII, FAPCCI, DICCI, etc. sought certain rebates on direct and indirect taxes for Telangana, which is a new state formed only six months ago. “The major being raising the centralexcise tax limit from Rs 1.5 crore to 5 crore as they sought reduction of interest loans from the present 14.5 per cent.,” Mr Rajender said.

Despites, the Modi-led NDA government has decided to involve state governments directly in budget exercise to ensure that their needs and issues are addressed.

Recent meeting conducted by Mr Narendra Modi with CM’s of all the states recently to seek suggestions on replacing Planning Commission.

Mr Modi sought involvement of all the CMs while drafting plans for the development of states instead of relegating the responsibility sol to Planning Commission.

Medaram Jathara

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