Jharkhand to attract investments with single window

Ranchi, March 5 (IANS) The Jharkhand government will set up a single window system to clear proposals in a bid to attract more investments to the state, Finance Minister Raghubar Das said here Friday.

‘we will soon set up a single window system in the state to ensure investment and create an environment for industrialists,’ Das said after presenting the budget for the 2010-11 financial year in the assembly.

The budget focuses on boosting agriculture and reducing VAT (value added tax) on essential items like rice, wheat, potato and onion.

Also, VAT on diesel has been reduced from 20 to 18 percent and on helmet, motor parts, sweets and ice cream from 12.5 to 4 percent.

The total budget outlay is of Rs.22,297.59 crore. The plan and non-plan expenditure are Rs.10,304.41 crore and Rs.11,993.18 crore respectively.

According to the budget proposals, the government will generate resources by getting Rs.6,339.57 crore as the state’s share of central taxes, Rs.5967.43 crore from own tax revenue, Rs.3,129.64 crore as non-tax revenue, and Rs.4,665.10 crore as grants in aid.

The total capital receipt will be Rs.2,195.85 crore and borrowings will of Rs.2,179.23 crore respectively.

‘This is a growth-oriented budget. We will set up a cell to monitor the revenue collection and development work quarterly. Give us six months and we assure we will produce results’ Das, who is also the deputy chief minister, said.

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