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West Bengal govt presents deficit budget
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SPECIALCORRESPONDENT on 18 March, 2008 07:32:00
 
A Rs 2-crore deficit budget for 2008-09 was on Monday presented in the West
Bengal Assembly by Finance Minister Asim Dasgupta. Total deficit for the next
fiscal was estimated at Rs 77 crore and with the proposed additional resource
mobilisation of Rs 75 crore, the final deficit falls to the level of only Rs 2
crore, the Minister said.
The budget proposed raising professional tax ceiling to Rs 3,000 per month,
discontinuance of the present system of levying excise duty on foreign liquor
based on its alcohol content, but increased the one-time tax levied on motor
cars and buses.
The Minister proposed to raise the tariff limit for exemption from payment of
luxury tax from Rs 500 per day to Rs 1,000 per day and also to broaden the
definition of multiplex theatre complex.
Tax reduction was announced on road rollers, shoes (with MRP not exceeding Rs
750), certain tailoring items, biscuit manufacturers, kerosene stove and
camphor.