Bihar to present economic survey first

FIRST MOVER: Bihar will be the first state to present a pre-budget economic survey.

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New Delhi: Before the month long budget session commencing from February 23, Bihar government will come out with an economic survey.

"Bihar will be the first state to present a pre-budget economic survey in the country," as quoted by PTI, said the Bihar Deputy Chief Minister Sushil Kumar Modi who also holds the Finance portfolio.

During the budget session, the government will also present a 'Performance Budget' depicting its achievements during the current financial year and an 'Outcome Budget' fixing targets for the next fiscal, Modi said.

He said the government was seriously considering to provide insurance cover to traders and transporters who were paying sales tax on a regular basis. He, however, refused to divulge the details about the government's move.

Modi said the government was considering to increase the court fee and taxes on commercial vehicles entering Bihar from outside.

The hike in court fee had been suggested by the Shetty Commission, the Deputy Chief Minister said.

He also added that a move was also afoot to introduce One Time Settlement (OTS) scheme in commercial and transport departments to recover about Rs 700 crore locked in these two departments as over 18,000 certificate cases relating to sales tax were pending in the state.

He also hinted at making some changes to make commercial taxes simpler and taxpayer friendly and added the proposed hike in the court fee would not affect the common man.