Financial Daily from THE HINDU group of publications
Thursday, Jun 17, 2004

News
Features
Stocks
Cross Currency
Shipping
Archives
Google

Group Sites

Industry & Economy - Budget


No new taxes: Rosaiah

Our Bureau

Hyderabad , June 16

THE State Government has reiterated that it will not levy any new taxes in the upcoming Budget, notwithstanding the poor financial situation.

Addressing a press conference here on Wednesday, the Finance Minister, Mr K. Rosaiah, said the Government didn't have enough nerve to levy new taxes.

He, however, evaded a question on Government's move to levy a cess on petrol, saying that he just meant there would be no new taxes, leaving enough hints that the Government might take the cess route to generate income.

Mr Rosaiah, who had a meeting with top officials of at least six revenue-generating Ministries as part of pre-Budget exercise, said there was nothing to feel happy about the State's financial position, though it was not in intensive care.

"There is a huge gap between expenditure and income. We need to bridge that gap. It will take some time," he said.

Earlier in the day, he was closeted with Principal Secretaries of Commercial Taxes, Excise, Transport, Registration, Mines and Geology and Forest Departments to assess their performance. "We told them to rise to the occasion to let the Government honour its commitments," he said.

Stating that it was a routine exercise, he said the Government was still assessing the financial situation. "Our endeavour is to put in place fiscal discipline," the Finance Minister said.

Mr Rosaiah will attend the Finance Ministers' Conference scheduled to be held in New Delhi on June 18.

Meanwhile, Mr Rosaiah criticised the Telugu Desam Party (TDP) for trying to stall efforts to revive the Somasekhara Commission that probed the Yeleru land scam. He said it was the TDP Government that appointed the Commission.

"Now we want to revive the commission, allowing Mr Somasekhara to complete the job. Leaving no scope for any misgivings, we have decided not to appoint someone else to conduct the probe," he said. "We find no reason to reconstitute the panel as it had almost completed the probe."

Referring to TDP's demand for probe by a sitting Supreme Court judge, Mr Rosaiah wondered what stopped the erstwhile Government from doing the same.

More Stories on : Budget | Andhra Pradesh

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page



Stories in this Section
Focus on biomass conversion in Kerla


Tax sops for broadband cos sought
No new taxes: Rosaiah
Montek appointed Deputy Chairman of Plan panel
Riches concentrated among 61,000 high net worth individuals: Study
Shifting of service operations abroad — India, favourite spot for European cos
`Bureaucratic hassles, big problem for global investors'
`US cos facing hurdles in doing business with India'
Pak team signs MoU with Chemexcil
Kerala Chambers voice conern over hike in fuel prices
CEA report favours REL, says Tata Power
Satluj Jal Vidyut set to expand capacity
Reinsurance premiums may turn soft for power sector
Steel regulatory authority — It's consumers' proposal, says Paswan
Coal price hike to hit steel industry: ISA
VAT compensation kitty for States may be tightened
Tyre exports by ATMA members rise 8.59%
`Unrealistic pricing cause for FMCG sector woes'
ESPN-Star bags global rights to telecast Asia Cup
NIEM centre opened in Hyderabad
`Multi axle CVs, tractor trailers gaining ground'
DRDL to develop Astra missile
In Hyderabad today
Grain trade moots China approach on exports



The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2004, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line