|State may tax cars to buy buses|
|In the past two budgets, state finance minister Asim Dasgupta stepped on the gas to mop up revenue from owners of private cars and
two-wheeler. By Subhro Niyogi, TNN|
In the past two budgets, state finance minister Asim Dasgupta stepped on the gas to mop up revenue from owners of private cars and two-wheeler . He shifted gear from annual tax payment to five years at one go for cars and lifetime tax for twowheelers and hiked the tax rates by nearly 100%.
If you thought Dasgupta will go easy on the throttle after two years of aggressive tax drives on personal vehicles , there's no such relief in sight. The state has committed to continue raising road tax rates of cars and twowheelers - while phasing out tax on buses.
The promise to hike tax on private vehicles is part of several riders that the government agreed to enable it to tap funds from Jawaharlal Nehru National Urban Renewal Mission (JNNURM ) scheme. This is part of a stimulus package announced by the Centre on January 2 and comprises a onetime assistance to state governments for purchase of buses for state transport units by June 2009.
Read more: http://timesofindia.indiatimes.com/Kolkata_/State_may_tax_cars_to_buy_buses_/articleshow/4203342.cms
Source: The Times of India (http://timesofindia.indiatimes.com)