Tuesday 05 November 2024

News Analysed, Opinions Expressed

Economy | Budget

Budget Highlights 2016

 

Following are the budget highlights, uploaded live while Chief Minister Laxmikant Parsekar was presenting the budget in the Goa Assembly.

17:19

»CM Parsekar ends budget speech with Manoharrai Sardesai's Marathi poem 'Sundar Maza Goa.'

17:17

»River or surface drawal and raw or semi treated pumped water enhanced to Rs 15/- and Rs 20/- per cubic metre respectively. This will not be charged for agricultural purpose.

»Revised Levy of 0.5% to remove practical difficulties in implementing earlier rate of 2%.

»Clarifying order in type of material used in packaging, the use of the product, as well as, to exempt goods under Schedule - D of the Goa VAT Act, 2005 to be issued.

17:14

»Exemption of fees and taxes for truck and barges used for mining operation, on pro-rata basis continued this year.

17:13

»Various fees reduced by nearly 90%, including Annual Processing Fees for raising contractors, registration fees for transport contractors, registration fees for every truck, registration fees for barge or machinery, sale and export permit for Iron Ore, tr

»Levy of cess under the Goa Rural Improvement and Welfare Cess Act, 2000, in case of mineral ores, whether royalty is paid to the State Government exempted as District Mineral Foundation Fund has been created under MMDR Act, 1957.

17:11

»To keep check on unregulated operators conducting pleasure trips special survey of vessels will be carried out at additional fees of Rs 20,000/- per vessel.

»Water Sports Policy to be implemented to regulate water sports activity and reduce traffic density on the beaches.

»Proposal to revise fees for services provided by River Navigation Department during the year.

17:10

»Marginal rationalization in Motor Vehicle tax at registration, Infrastructure Development Cess, Green Tax on vehicles completing 15 years, Passenger Tax and Annual Motor Vehicle Tax.

»New levy for Facilitation-cum-Inspection fees by registering authority during inspection of new vehicle at dealers premises.

»Proposal to permit water sports activity in inland waters only during monsoon months by paying additional fees of Rs 15,000/- per vessel.

17:09

»Processing fees of Rs 5,000/- on application made by Foreign Nationals of non-Indian origin before the FEMA committee.

17:08

»Relief to the members of Co-operative Housing Societies. Stamp duty in their favour shall be only 0.6%, if agreement of sale has been executed as per Stamp Act.

»Total exemption in Stamp duty and Registration fees on conveyances in favour of Co-operative Housing Societies formed by members who have purchased units by proper sale deed.

»Few non- essential fees under Civil Registration Code marginally enhanced.

17:07

»Proposal to maintain an updated land record and proper inventory of properties by introducing a system of Mandatory Mutation of land records.

»Fees for Renewal of license and Annual Recurring Fees for land based and offshore casinos, enhanced.

17:06

»Conversion fees and fees on mutational cases, marginally enhanced.

17:05

»Clarification as regards levy of annual license fees for category “B” Hoteliers to permit adjustment of excess fees paid last year this year.

»Permission to sell liquor in packed bottles for one more hour beyond 9 p.m. granted on payment of surcharge of 50% of license fee.

17:04

»To prevent nuisance of littering liquor bottles and beer cans and to ensure peaceful order, Government proposes to notify open spaces and public places where consumption of liquor will not be allowed.

»Special dispensation given to coastal villages and coastal municipality in Pernem, Quepem and Canacona taluka restored and license fee on retail sale of liquor reduced by 25%.

17:03

»Transfer fee for manufacturers of IMFL, Beer or Wine enhanced from Rs 5.00 lakhs to Rs 10.00 lakhs.

»Establishment license fee of Distillery or Brewery enhanced from Rs 10.00 to Rs 20.00 lakhs and for Winery with natural fermentation from Rs 25,000 to Rs 35,000.

17:02

»Incentives to local distillers or “bhatikars” to promote the culture and tradition of distilling and ensure benefits of Geographical Indications, to these primary stakeholders.

»Formulation of Feni Policy.

17:01

»Feni to be categorized as “Heritage Spirit of Goa” by amending Goa Excise Duty Act, 1964.

17:00

»Import fee on bottled wine brought in State of Goa enhanced from Rs 6/- to Rs 10/- per bulk litre to encourage local wine manufacturers.

»Efforts to promote cottage industry who utilize alcoholic beverages in their products eg. Liqueur chocolates, creams, and permit manufacturing and sale on payment of license fee of Rs 5,000/-.

16:59

»Other license fees and Excise fees modified.

»Permission to possess more than the permissible quantity of liquor for personal consumption and for educational purposes, upon payment of permit fees of Rs 1,000/- and Rs 2,000/- respectively.

»Fees for possession of rectified spirit or ENA classified in two slabs.

16:58

»Clarification in respect of glass bottles to include beer bottles and alcoholic drinks, carbonated or having strength below 10% v/v.

»Marginal revision in Excise Duty on IMFL and Beer manufactured in Goa or imported from outside Goa.

16:57

»Slabs of Luxury Tax rationalized.

»Entry fee in Casinos enhanced from of Rs 700/- to Rs 1,000/- per person. Ticketing through electronic fiscal devices to ensure check on real time basis.

16:56

»Clarification on Restrictive Tax Invoices for permitting ITC for purchases of local raw materials.

»Scheme for exemption on Luxury Tax @ 25% for the month of June to September.

16:55

»Scheme for giving incentive to new units or for expansion including existing units, based upon capital investment, employment generation and procurement of local raw materials.

16:54

»One time settlement scheme to reduce disputes before various Courts and Appellate Authorities for all acts so that it simplifies transaction to GST.

16:53

»Proposal to amend the Goa VAT Act, 2005 to deposit 10% of disputed dues in First Appeal.

»Scheme to adjust and refund excess Input Tax Credit (ITC) by providing carried forward of excess ITC so that working capital of the dealer does not get blocked and local purchases encouraged.

16:52

»Relief to small business men and trades, at a net loss of 2% to the Government.

»Cashew and palm feni exempted from levy of VAT of 5% to promote small time distillers or “bhaticars”.

16:51

»Threshold limit increased from Rs 5.00 lakhs to Rs 10.00 lakhs to importers and manufacturers.

16:50

»Threshold limit increased from Rs 5 lakhs to Rs 10 lakhs thereby providing relief to small time and new entrepreneurs.

16:49

»VAT on SUV’s costing Rs 15 lakhs & above and high caliber motorbikes costing Rs 2 lakhs & above, from 12.5% to 15%.

16:48

»VAT on Aviation Turbine Fuel (ATF) enhanced from 12.5% to 18%.

16:46

»VAT on Motor Spirit enhanced from 15% to 22%. Rs 55/- per litre to be maintained, much lesser than the price as on 2 April 2012.

16:45

»Free voice and data plans for eligible youth under Digital Youth Initiative.

16:44

»Electropreneur Park to be established at Goa College of Engineering.

»Concessional interest rate 2% less for IT professionals from Women, SC and ST community for existing start-ups/new start-ups

16:40

»Rs 12 crore allocated for operationalizing IT Investment Policy 2015 – 2020.

16:39

»Rs 20 crore for Mayem Evacuee Property issue.

16:38

»Rs 2.5 crores for one-time benefit to freedom fighters not covered under pension scheme. Rs 3 crores for Patradevi monument.

16:36

»New police station buildings for Quepem, Sanguem and Maina-Curtorim.

16:33

»New scheme for reimbursement of infrastructure tax.

16:30

»Rs 17.60 crore kept aside for Galgibag Turtle Conservation Reserve. 15.57 hectres to be acquired.

16:28

»Loan amount under CMRY scheme enhanced across various categories.

»Age limit for government job enhanced from 40 to 45 years.

16:27

»Electronic monitoring system to track IPB approvals. Simplification of IDC regulations

»Start Up Hub with target of 100 start ups with seed capital funding up to Rs 50 lakhs through IPB

16:26

»Revival of sick units scheme to become operational from 1st April 2016.

16:24

»New Nursing College. Construction/Up gradation of various health centres.

»Sector specific skill development program for Goan youth in several sectors incluidng tourism.

16:23

»New 450 bedded Super Specialty block at Goa Medical College.

16:17

»Deen Dayal Swasthya Seva health insurance scheme for 443 ailments and therapies.

16:15

»New water supply scheme for raw and treated water for Porvorim and Tuem Electronics City.

16:14

»New National Highways NH 17C, link between NH 4A and NH 17B, NH 17D.

»25,000 toilets per year under Swacch Bharat Mission.

16:13

»New infrastructure projects – bridges, roads, water supply and sewerage works.

16:12

»Motorcycle Pilot Pension Scheme extended to Auto Rickshaw Drivers.

»Consultation with stakeholders before finalizing NHDP alignments. Rs 2500 crores under Bharat Mala Project

16:11

»Rs 146 crore budgetary provision for Mopa Airport.

16:10

»Taluka level marketing outlets and training facilities for women Self Help Groups.

16:09

»Rs 29.70 crores received from GOI for AMRUT Mission.

16:05

»Conversion charges, stamp duty and registration fees waived for cooperative housing societies formed by government servants and accredited journalists.

»Taluka level marketing outlets and training facilities for women Self Help Groups.

16:03

»Enhanced outlay for infrastructure creation for 36th National Games.

»Housing for All – Goa Housing Board to create affordable housing in each taluka through available government/communidade land.

16:02

»Project on Intangible Cultural Heritage with technical support from UNESCO. Enhanced outlay for renovation of important heritage sites.

16:01

»Provision of Rs 520 lakh made to encourage regional cinema of Goa.

16:00

»New IFFI venue on PPP basis to be taken up. Rs 10 crore provision made.

15:55

»Accredited Journalists’ family pension enhanced from Rs 1000 to Rs 3000 and monthly pension contribution waived. Welfare schemes for journalists.

15:51

»Enhanced outlays for marketing & infrastructure development. 80,928 foreign tourist arrivals on account of E Tourist Visa.

15:48

»Griha Adhar support increased to Rs 1500 per month per person from 1st Sept ‘16. Ladli Laxmi age limit enhanced to 45 years

15:47

»Charles Correa Chair to be established at Goa College of Architecture.

»Rs 10 crore for land acquisition for IIT Goa.

15:45

»Golden Jubilee Scheme for research and development fund at Goa Engineering College

15:44

»No of Best Teachers' Award increased with 50% awards for below 45 years of age.

15:42

»Goa Scholarship Scheme enlarged to cover 10 additional students.

»Infrastructure grants to schools for special children and vocational education for special children with additional benefits.

15:40

»Four evening colleges to be started, two in each district, Rs 20 lakh provision made.

15:39

»Special scheme for Value Education and Yoga Training through GEDC.

»‘One semester abroad’ for financially weak students for higher education. Rs 30 lakh provided.

15:38

»Grants to non-aided primary schools opting for Konkani/Marathi medium.

15:36

»Special grant of Rs 400 per student per month for schools imparting primary education in Konkani/Marathi medium.

15:35

»New scheme for Crab, Mussel and Oyster farming in backwaters and near the shore.

15:34

»50% subsidy scheme for purchase of net for traditional Raponkars.

»Petrol quota increased from 1200 litres to 1700 litres for fishermen.

15:33

»Brackish water aquaculture scheme extended to Fresh Water aquaculture.

15:32

»Youth Centric Ornamental Fish Farming scheme with provision of Rs 2.5 lakh per beneficiary.

15:31

»Special scheme for organic farming, integrated farming and cluster development of agriculture.

15:30

»Pashupalan scheme extended to Goshalas and NGOs.

15:29

»Gopal Ratna Award with cash prize of Rs 1 lakh for highest milk producing farmer & community dairy farming mooted.

15:28

»New veterinary hospital at Sonsodo.

15:27

»NOC from Agriculture Department mandatory for cutting coconut tree, to counter ill propaganda by political forces.

15:26

»Coconut Development Board headed by professional to be set up, not a politician.

15:25

»Support price for Coconut increased from Rs 8 to Rs 10 per coconut.

15:24

»Encouragement to children to start kitchen garden in the backyard of schools.

15:23

»Kalay farm to be developed as model organic farm.

15:17

»50% subsidy for the use of organic farming, to discourage chemical fertilisers.

15:15

»Survey & Settlement offices to be opened in 6 more talukas. Land records fully digitised.

15:14

»Single window system for land matters.

15:13

»2 new Deputy Collector Offices at Sattari and Sanguem.

15:12

»Budgetary provision for implementation of 7th Pay Commission recommendations

15:11

»Goa Staff Selection Commission for non-gazetted employment.

15:10

»Plan capital outlay of Rs 4008.05 crore with increase of 10.61%.

15:09

»Emphasis on social, educational, health, housing, employment and infrastructure sectors.

»Revenue Surplus Budget of Rs 158.82 crore. Total Budget size at Rs 14694.17 crore with increase of 9.06%.

15:08

»The GSDP at current prices for FY 2016-17 estimated at Rs 70,400.03 crore reflecting growth rate of approximately 10%

»Gross Fiscal Deficit estimated for FY 2015-16 at 2.84% of GSDP. (< 3% as per Goa FRBM Act)

»Estimated Debt – GSDP ratio 17.07% for FY 2016-17 (< 25% as per Goa FRBM Act)

15:05

»Goa’s per capita income at current prices (2013 -14) Rs 2,57,490 highest in the Country.

15:04

»CM remembers veteran Goans from T B Cunha to Bhausaheb Bandodkar while beginning his speech.

15:02

»CM begins budget speech with Bakibab Borkar's famous poem 'lamandive'.

14:42

»Budget delayed due to cabinet meeting. CM will start budget speech at 3 pm.

13:51

»Chief Minister Laxmikant Parsekar will rise sharp at 2:30pm to read last budget of the current term of Goa Assembly.

09:17


goanews.com is now on Telegram & also Youtube. Kindly subscribe for free & remain updated.




Name
Place
Email
Comments
Verification Code Enter The Code Displayed hereRefresh Image
 

Economy