Two-day Delhi Assembly begins today; amendment to VAT on agenda

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| Tuesday, March 24, 2015 - 11:54
First Published |

Two-day Delhi Assembly begins today

New Delhi : A two-day Delhi Assembly session will be convened today for tabling the vote on account for the first three months of the next financial year even as the “full budget” will be presented in the month of June.

According to a government official, funds for power and water subsidy for a quarter has been earmarked in the vote on account.

The AAP government would also put a proposal to amend certain provision of VAT (Value Added Tax) Act to allow the carry forward of Input Tax credit for traders.

“During the two-day Assembly session, vote on account for the first three months of the next financial year would be tabled. Around Rs 425 crore will be earmarked for continuing water and electricity subsidy for three months as the AAP government has allocated funds for March 31,” said a senior government official.

The official also said that the amendment to VAT, on being passed by the state assembly, will allow the traders to carry forward their credit for the successive financial years.

The financial year will come to an end this month and thereafter, the government would require funds to run several public welfare schemes.

Government will seek a total of around Rs 9,000 crore fund for Vote-on-account budget.

Chief minister Arvind Kejriwal had recently announced that the people would be making the Budget on their own and this experiment would be carried out in five to 10 constituencies.

The AAP government will table the Budget in the Assembly in June, giving some time to people of the city to send it suggestions on the Budget.

“The exercise of identifying such constituencies has begun. Soon, people of identified constituencies will start sending suggestions to governmnet on the Budget,” the official said.

The Delhi budget used to be tabled by mid-March. 

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