Meghalaya Cabinet aims to increase state revenue
SHILLONG | SEPT 24, 2020:
The Meghalaya Cabinet on Thursday approved the proposal to converge the Chief Minister's Rural Development Fund and the Chief Minister's Special Urban Development Fund, which has an amount of Rs 8 crore and Rs 4 crore, respectively.
While addressing reporters, Chief Minister Conrad K Sangma informed that they implemented these funds through the respective Urban Affairs and Community and Rural Department.
According to him, these two schemes have converged into one scheme under the banner of the Chief Minister's Special Development Fund and will now be implemented by the Chief Minister's Secretariat, "This will be the same fund amounting to Rs 12 crore but will now be implemented by the CM's Secretariat. The purpose is to ensure implementation at a faster pace," Sangma said.
Another agenda taken up by the Cabinet on Thursday was the Meghalaya Settlement of Arrears (under State Taxation Acts) Ordinance. Sangma informed that the rules for the Meghalaya Settlement of Arrears, 2020, were approved. The Cabinet also approved the Remission of Stamp Duty on Emergency Credit Line Guarantee Scheme and the PM SVAnidhi Scheme.
The CM stated that the state government had exempted the stamp duty fees on this Emergency Credit Line Guarantee Scheme, which will allow small-time loan applicants to avail the benefits it as is being done throughout the country.
Meanwhile, the Cabinet also notified the rules for the Meghalaya Court Fees E-Payment, including the Amendment to the Meghalaya Minerals Cess Act, 1988. Sangma informed that the Cabinet has to increase the number of items and minerals on which they can charge Cess. Cess will now be charged on an additional 14 items. They will utilise the Cess collected for health, water supply and physical infrastructure besides education.
They also proposed to levy a tax from individuals who extract or remove minerals from any land besides mines or quarry. The state government was able to collect Cess amounting to about Rs 48 crore back in 2018-19 which increased to Rs 73 crore in 2019-20. The state government now expects an additional 40-50 crore rupees more with the new items in the Cess list.