Budget session of assembly from tomorrow
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- Current News
- Tuesday, 19 February 2013 14:48
- Published on Tuesday, 19 February 2013 14:48
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Gujarat Global News Network, Gandhinagar
The first budget session of the 13th Gujarat Assembly will begin from tomorrow.
Finance Minister Nitin Patel will present the state budget for financial year 2013-2014 on the first day of the session. This will be second time that Patel will be presenting the state budget; he first presented it in 2002. The speaker the house is former Finance Minister Vajubhai Vala, who himself holds the record of presenting the budget 18 times.
Giving hints about what’s in store in the budget, Finance Minister Patel said that the government's is aiming at inclusive development. Sources in the finance ministry have indicated that the size of the budget is likely to exceed Rs 53,000 crore.
Concerns have been raised by some, including the opposition Congress in the past few years about the state’s high public debt despite its double digit growth rate. The state has averaged an annual growth rate of 10.4 per cent in past five years.
There have also been calls from industry bodies to reduce Value Added Tax (VAT) from many products. "We have received letters from various commerce and industry associations across the state with demands of reducing VAT on a range of products," Patel said.
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