Tax-Free budget likely to be present in near future: Haseeb Drabu

Tax-Free budget likely to be present in near future: Haseeb Drabu

The main interest in the ensuing session of the state legislature is to see wheather the Government led by Mehbooba Mufti, opts for some new taxes which could help the Government in implementing various development projects.

In fact the issue of imposition of new taxes seems to have started bothering the senior leaders of the two parties,the PDP and the BJP.

It is so because the financial health of Jammu and Kashmir state is not well.

But Mehbooba, inside reports say, has suggested to the Finance Minister, Haseeb Drabu that he should initiate meetings with leaders of trade, industry and with a cross section of people so that he gets the idea whether imposing fresh dose of taxes is feasible or not.

The session of Legislative Assembly (LA) will begin on May 25 and government will present the budget on May 30th.

Mehbooba did follow the footsteps of her father because she and her father had one mission of developing the state into a prosperous area.

This way it is not only the PDP-BJP coalition Government’s test but the budget session will also determine the equation between the coalition Government and the BJP led NDA Government in the centre.

This is possible if the BJP led NDA Government in general and Prime Minister, Narendra Modi, and Finance Minister, Arun Jaitley,in particular open the strings of the purpose of the union Government..

Hence imposition of taxes or having a tax-free budget proposal depends on the central Government’s response to the state’s financial requirement.

On account of 27-years’ long Pakistan sponsored militancy majority of people have been affected because of drop in the tourist traffic which has been treated as a backbone of the state’s economy.

Traders have suffered heavy losses because of violence and on account of repeated shutdown for which the calls are being given by the separatists.

Transporters have suffered losses because of repeated shutdowns and on account of decline in tourist traffic to Kashmir.

As such traders,transporters,hoteliers and houseboat owners who can bear heavy taxes seem to be helpless because of regular losses.

 

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