INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Finance minister Nirmala Sitharaman on Friday hit out at Opposition-ruled Himachal Pradesh, Punjab and Kerala for increasing VAT
on fuel, while arguing that the Centre had reduced excise task on petrol and diesel twice.Replying to the debate on the Union Budget in Lok
Sabha, the FM reacted to members raising the issue of high import tax responsibility on fuel and diesel, explaining that the Congress
federal government in Himachal Pradesh had actually increased VAT by Rs 3 a litre, days after it took workplace in the state.Earlier this
month, the AAP government in Punjab had actually levied an additional duty of 90 paise a litre on VAT, she said
Earlier today, the Kerala government decided to impose a cess of Rs 2 a litre on fuel and diesel, she said
When the import rate increased, the excise responsibility was decreased by the Centre to guarantee that there was no burden on the customer
in November 2021 and June 2022
I want to name states that did the reverse (raise taxes), she said, while including that states such as Tamil Nadu, West Bengal, Andhra
Pradesh and Jharkhand have either not reduced the state VAT or have actually selected a limited reduction.Defending her fifth budget plan,
Sitharaman stated it astutely balances the countrys advancement needs and fiscal vigilance and insisted that taxpayers will be better off
Dismissing recommendations that the old tax program motivated cost savings, she said people earning as much as Rs 9 lakh can not save Rs 4.5
lakh as they likewise had to handle the family budget.She preserved that allotment for food and fertiliser subsidies or MGNREGS had actually
not been minimized to lower the financial deficit
The food subsidy is adequate to cover all prepared for expenditure for PDS operation
The increase in the last two years was because of the PM Garib Kalyan Yojana
Now, the central government will bear all costs
There is no reduction in food subsidy, she said.On fertiliser, she said the provision of over Rs 1 lakh crore was improved to over Rs 2.2
lakh crore in the modified price quotes for the existing fiscal year due to an increase in international costs
Import expenses have actually gone, we imported it at a greater expense but didnt enforce any cost on the farmer
The burden is totally borne by the Centre, the FM said.On MGNREGS, she said the amount can increase if there is more demand for work,
however with higher allocation for 2 plans-- PM Awas and Jal Jeevan Mission-- need for work under the work assurance plan will reduce
She said, higher growth will minimize the pressure on the scheme.The FM said the brand-new tax program, which provides a refund on yearly
earnings of up to Rs 7 lakh, will leave higher non reusable earnings in the hands of individuals
A standard deduction of Rs 50,000 has been enabled under the new scheme.
