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Fresh tax proposals to garner Rs 690 cr -- TN Seeks Rs 3,000 cr grant from Centre

Our Bureau

CHENNAI: The Tamil Nadu budget for 2002-03 has levied fresh taxes to net Rs 690 crore, apart from a 5 per cent infrastructure surcharge and sales tax on some commodities, while lining up disinvestment of public sector undertakings to augment resources.

The State Finance Minister, Mr C. Ponnaiyan, said the taxation proposals were aimed at generating revenues in the face of the economic slowdown and the proposed transition to the value-added tax system in April 2003.

The Chief Minister, Ms J. Jayalalithaa, has requested the Centre to evolve a one-time assistance package for all States, he said. Tamil Nadu has requested a Rs 3,000-crore grant to put it back on the development path.

Snapshot

  • Wheat, jaggery, pepper, pulses and gram brought under taxes.

  • Self-assessment by dealers to be extended.

  • Infrastructure development through public-private participation.

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