| Deputy chief minister Sushil Kumar Modi addresses a pre-budget meeting at the old secretariat in Patna on Monday. Picture by Nagendra Kumar Singh |
Deputy chief minister Sushil Kumar Modi on Monday announced that the government would bring “one time settlement” (OTS) scheme for entrepreneurs and transporters to resolve their dues and disputes.
“Bihar State Finance Corporation, commercial taxes and transport departments would bring the OTS to dispose of disputes regarding the long-pending dues of all these institutions and departments,” Modi, who also holds the finance portfolio, said while addressing members of the trade and industries here.
Modi was holding pre-budget meeting with all stakeholders of trade, industries and related sectors for preparation of the state’s budget. Members of the Bihar Industries Association (BIA), Bihar Chamber of Commerce, Confederation of Indian Industry, Bihar Sugar Mills Association, various traders associations of Patna among others took part in the meeting.
Modi told the members that the government would take care of the grievances that have been raised by the industry associations in the next budget.
About the problems in getting the reimbursement amount in time, Modi said the payment would be made electronically from the next fiscal year. The Single Window Act would be strengthened, he said, adding that the government would consider the demand for exemption on entry tax on plant and machinery and also how to reduce the mismatch between the rate of entry tax and VAT.
Modi took strong exception to Bihar State Power (Holding) Company Ltd’s letter, which talked about the withdrawal of exemption from charging annual minimum guarantee (AMG) and monthly minimum guarantee (MMG) on industries. “The issue has been brought to my knowledge. I would certainly talk to the chief minister in this regard,” the deputy chief minister said.